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John Laing-backed fund raises £160m for renewable energy projects

John Laing Environmental Assets Group (JLEN) has raised £160m in an initial public offering to be spent on a raft of renewable, waste and waste water PFI energy projects.

The fund includes a solar project, three onshore wind farms, two waste processing projects and one waste water treatment project. The investment will be made via the acquisition of Initial Portfolio, which consists of investment interests in these projects.

Richard Morse, non-executive chairman of the group said: “JLEN’s balanced portfolio of operating environmental infrastructure assets, our relationship with John Laing and our ability to provide a long-term, sustainable, inflation-linked dividend enabled us to attract a good mix of institutional and private investors.”

Plans to float on the London Stock Exchange were announced in February to take advantage of significant opportunities including the waste sector.

Projects to gain from investment:

  • one solar project (Amber Solar)
  • three onshore wind farm projects (Bilsthorpe Wind, Castle Pill & Ferndale Wind and Hall Farm Wind)
  • two waste processing projects (D&G Waste and ELWA Waste)
  • one wastewater treatment project (Tay Wastewater)

 

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