John Laing Environmental Assets Group (JLEN) has announced that it has entered into an agreement with Energiequelle GmbH to acquire 100% of the Parc Éolien Le Placis Vert wind farm. The consideration for the acquisition, which is expected to complete over the coming weeks, is approximately €2.5 million (US$2.8 million).
The project is located in the municipality of Saint-Gouéno 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 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 January 2016, and Energiequelle will continue to provide the technical and commercial management services for the project.
The acquisition, funded by a draw-down under the company's £65 million (US$95 million) revolving credit facility, brings the total capacity of the renewable energy assets in the JLEN portfolio to 132.9 MW.
Richard Morse, Chairman of JLEN, said:
"We are pleased to announce this acquisition, which represents JLEN's entry into the French market and is consistent with JLEN's strategy of diversification. This marks JLEN's first collaboration with Energiequelle, an established German developer and operator of wind projects. We are in discussion with Energiequelle on other acquisitions for up to 10MW comprising 8 wind turbines in France, and we look forward to future partnering opportunities with Energiequelle."