John Laing Environmental Buys Anaerobic Digestion Asset In Yorkshire

LONDON (Alliance News) - John Laing Environmental Assets Group Ltd on Wednesday said it acquired ...

Alliance News 19 December, 2018 | 9:59AM
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LONDON (Alliance News) - John Laing Environmental Assets Group Ltd on Wednesday said it acquired an anaerobic digestion asset, Biogas Meden Ltd, for GBP16.2 million.

The anaerobic digestion plant has been acquired from a subsidiary of BayWa re Renewable Energy GmbH. The environmental infrastructure fund said the price is subject to a post-completion working capital adjustment.

The acquisition will be funded by a draw-down under the company's revolving credit facility.

The anaerobic digestion plant is located around 25 miles southeast of Sheffield, in south Yorkshire, and was commissioned in March 2016. The plant has a thermal capacity of 5 thermal megawatts and predominantly produces biomethane to be injected to the national gas grid.

Anaerobic digestion involves the breakdown of microorganisms in the absence of oxygen, and it produces biogas.

Upon completion of the acquisition, John Laing Environmental has a portfolio of six anaerobic digestion projects, and the total capacity of the renewable energy assets in its investment portfolio now stands at 279.2 megawatts.

"This latest acquisition takes the company's portfolio beyond GBP500 million and delivers on the company's recent ambition to further diversify its portfolio into the bioenergy sector," said Chairman Richard Morse.

John Laing Environmental shares were trading broadly flat on Wednesday at 104.49 pence each.

By Evelina Grecenko; evelinagrecenko@alliancenews.com

Copyright 2018 Alliance News Limited. All Rights Reserved.

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John Laing Environmental Assets Ord 111.00 GBX 0.00 -
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