UK's John Laing acquires 20-MW wind project in France

UK infrastructure company John Laing Group Plc (LON:JLG) said Monday it has reached financial close on the acquisition of a 20-MW onshore wind farm project in France.

Located north west of Dijon in Bourgogne, eastern France, the Pasilly project marks the group's first investment in French infrastructure. Financial details were not provided.

The wind farm will be built and operated by Spanish wind turbine maker Gamesa and will consist of 10 Gamesa G97 turbines. It will benefit from the French feed-in tariff (FiT) mechanism for 15 years from the start of operations. Completion is expected in the third quarter of 2016. This is the fourth wind project on which John Laing and Gamesa are partnering.

Ross McArthur, managing director of renewable energy for John Laing, noted that the French government had recently pledged to increase the share of renewable power in the energy mix. "We continue to see attractive opportunities to invest in projects in France and other selected countries in Europe," McArthur also said.

In October, the group announced the acquisition of the 89-MW repowered Klettwitz wind farm in Germany.

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