UK-based infrastructure specialist John Laing will float an environmental assets fund on the stock exchange after divesting a chunk of its existing wind and solar portfolio to the new entity.
John Laing will sell the newly-created John Laing Environmental Assets
(JLEA) three onshore wind farms totalling 44MW and two PV plants with a
combined 25MW capacity, as well as a pair of waste management assets.
John Laing said it plans to take up to 24.9% of JLEA when it floats on
the London Stock Exchange.
The new investment group will have first call on certain John Laing
environmental infrastructure assets once it has floated.
The latest divestment follows the 2010 launch of the John Laing
Infrastructure Fund, which John Laing said had shown a total 33% return for
shareholders by the end of last year.
Adrian Ewer, chief executive of John Laing,
said: “John Laing has responded to the government’s increase in focus on
economic infrastructure by developing its portfolio of assets in the
environmental infrastructure sector.
“We have developed these assets so that they are at the stage at which
they are now attractive to investors seeking robust and sustainable yields.”