John Laing Environmental buys another wind farm

John Laing Environmental announced on Tuesday that it has entered into an agreement with Energiequelle to acquire 100% of the Energie Eolienne de Plouguernevel wind farm.

The London-listed company said, following the acquisition of Parc Éolien Le Placis Vert wind farm earlier this year, this was the second project JLEN is acquiring from Energiequelle.

It confirmed that consideration for the acquisition, which is expected to complete over the coming weeks, is approximately €2.1m.

“The project is located in the municipality of Plouguernevel in the Côtes-d'Armor region of Brittany in northwestern France, and comprises five Enercon E-53 turbines with a total generating capacity of 4MW,” the firm’s board saidn.

“The project benefits from a 15-year Feed-in-Tariff regime at a fixed rate adjusted annually for inflation.

“The site has been fully operational since May 2016, and Energiequelle will continue to provide the technical and commercial management services for the project.”

John Laing said the acquisition was to be funded by utilising its existing cash balance and brings the total capacity of the renewable energy assets in the JLEN portfolio to 177.4 MW.