to-the-point: John Laing buys 90.5% in Texas wind farm
Wind turbine. Courtesy of Vestas Wind Systems A/S
UK-based investor John Laing Group plc (LON:JLG) on Monday said it is taking a 90.5% stake in the 100.5-MW Buckthorn wind farm project in the US state of Texas.
The project was developed by NRG Energy Inc (NYSE:NRG) and will be operated by it once it goes online in the fourth quarter of 2017. Buckthorn will sell its output under power contracts for up to 20 years.
RBC Capital Markets is providing construction financing and tax equity, John Laing noted.
The wind farm will use 26 pieces of V126-3.45MW turbines and three V117-3.6MW turbines by Danish firm Vestas Wind Systems A/S (CPH:VWS). John Laing did not disclose details on the acquisition consideration.