John Laing Enviro Assets buys 4-MW wind farm in France

John Laing Environmental Assets Group Ltd (LON:JLEN) today said it has agreed to buy the 4-MW Parc Eolien Le Placis Vert wind farm in France for EUR 2.5 million (USD 2.8m).

The UK environmental infrastructure investment fund is acquiring the facility from German wind farm developer and operator Energiequelle GmbH. The deal, expected to complete over the coming weeks, marks JLEN's entry into the French market and is in line with its strategy of diversification, said chairman Richard Morse. He added the fund was in discussion with Energiequelle on other acquisitions for up to 10 MW comprising eight wind turbines in France.

The Parc Eolien Le Placis Vert wind farm is located in the municipality of Saint-Goueno in Brittany, northwestern France. It consists of five Enercon E-53 turbines and benefits from a 15-year feed-in-tariff (FiT), adjusted annually for inflation. Energiequelle will continue to provide technical and commercial management services for the project, which became fully operational in January 2016.

Following the acquisition, JLEN will have renewable energy assets in its portfolio with a total capacity of 132.9 MW.

(EUR 1.0 = USD 1.138)

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