July 9 (Renewables Now) - UK environmental infrastructure investment fund John Laing Environmental Assets Group Ltd (LON:JLEN) said today it has acquired two anaerobic digestion (AD) plants for a total of about GBP 36 million (USD 48m/EUR 40.8m), growing its portfolio of AD investments.
The assets, Egmere Energy Ltd and Grange Farm Energy Ltd, were acquired from venture capital funds run by Downing LLP, enterprise investment scheme (EIS) funds managed by Amersham Investment Management Ltd and minority shareholders.
Both plants have a thermal capacity of about 5 MW and mainly produce biomethane for injection into the national gas grid. They also have 0.5-MW combined heat and power (CHP) engines and are accredited under the Renewable Heat Incentive (RHI) and Feed-in-Tariff (FiT) schemes.
The Egmere Energy plant, located in Egmere, North Norfolk, has been in operation since November 2014, while the Grange Farm Energy facility, located in Spridlington, Lincolnshire, went online in December 2014.
Financed by a draw-down under the company's revolving credit facility, the acquisitions take the capacity of the renewable energy assets in JLEN's portfolio to 269.2 MW.
(GBP 1 = USD 1.333/EUR 1.133)