(Alliance News) - John Laing Group PLC on Monday said it has agreed with an affiliate of Capital Power Corp for the sale of its interest in Buckthorn wind farm.
John Laing, which invests in infrastructure, said the purchase price is consistent with its latest valuation, and the sale is expected to complete in the second quarter of 2020, subject to regulatory approvals and customary closing conditions.
Buckthorn is a 100 megawatts wind farm located in Erath County, Texas. John Laing first invested in Buckthorn in mid-2017.
"We are pleased to announce our second divestment in the US, taking advantage of the high demand for operational renewable assets. In-line with our business model, we remain focused on capitalising on strong secondary markets, with a portfolio of high-quality assets available for sale over the next two years," said Chief Financial Officer Luciana Germinario.
John Laing shares were trading 7.6% lower in London on Monday at 305.60 pence each.
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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