Masdar buying John Laing's interest in 179 MW of US wind farms

Abu Dhabi Future Energy Company PJSC, better known as Masdar, has agreed to acquire John Laing Group Plc’s (LON:JLG) stakes in two US wind parks with a combined capacity of 178.9 MW.

The share purchase agreement covers the divestment of the 149-MW Rocksprings wind park in Texas and the 29.9-MW Sterling plant in New Mexico, the seller said on Tuesday. The UK infrastructure investor’s partner in the two projects is French renewable power producer Akuo Energy.

"This investment realization with Masdar will release capital to recycle into new greenfield opportunities in the US and internationally where we remain committed to our strategy investing in renewable energy and other infrastructure,” said Joign Jaing’s CEO Olivier Brousse.

The deal is subject to government and financing partner consents process and is expected to be completed in the first half of this year. It will mark Masdar’s first investment in North America’s renewables sector, the company said in a Twitter post.

The 149-MW Rocksprings wind farm in Texas’ Val Verde County consists of 53 units of General Electric’s 2.3-MW turbines and 16 units of its 1.72-MW machines. The Sterling wind park, meanwhile, uses 13 GE 2.3 MW turbines. Both plants were commissioned in 2017.

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