International infrastructure investor John Laing is selling off seven operational assets to its newly launched Environmental Assets Group.
The sale includes three onshore wind projects totalling 44MW in capacity, two solar PV plants totalling 25MW and two waste management assets – including one in Dumfries and Galloway.
John Laing said the launch of the group and divestment of assets was in line with the firm’s strategy to grow assets under management.
The investor says it is focused on building its onshore wind, solar and biomass portfolio of projects in the UK and Northern Ireland after closing seven green energy deals last year worth more than £80million.
The firm plans to float JLEN on the London Stock Exchange, retaining a 24.9% stake in the business.
The latest divestment follows the launch of the John Laing Infrastructure Fund (JLIF) in November 2010.
John Laing chief executive Adrian Ewer said: “We have developed these assets so they are now at the stage at which they are now attractive to investors seeking robust and sustainable yields.
“We have successfully executed this strategy previously with JLIF and, with significant prospects ahead to acquire further environmental infrastructure assets in the UK and internationally, we look forward to providing JLEN with futher opportunities from our environmental infrastructure portfolio.”
