The John Laing Environmental Asset Group (JLEN) has acquired Burton Wold Extension wind farm from John Laing Group (John Laing) for a cash consideration, including working capital, of GBP21.8 million.
Burton Wold Extension wind farm is located near Burton Latimer in Northamptonshire and comprises nine General Electric 1.6MW-100 turbines with a total generating capacity of 14.4MW and is accredited for 0.9 ROCs. The site has been operational since September 2014.
This acquisition, which was agreed in accordance with the First Offer Agreement between John Laing and JLEN, brings the total capacity of the renewable energy assets in the JLEN portfolio to 123.9MW.
The acquisition was funded by a draw-down under the Company's GBP50 million revolving credit facility and reinvestment of cash.
Richard Morse, Chairman of JLEN, says: "We are pleased to announce this acquisition, completing a busy period for the Company during 2015 in which we have successfully completed seven acquisitions, totalling GBP113 million, and adding 69MW of capacity to our portfolio. This acquisition also demonstrates the continuing value of our First Offer Agreement with John Laing."
