John Laing Group invested £134.8m in eight wind power projects last year, out of total new investment of £181.9m.
Wind energy projects accounted for 21.5% of the company’s portfolio value or £252.9m at the end of 2016, compared with 18.3% (£154.5m) at the end of the previous year.
The company took a 30% stake in the 111MW Nordergrunde offshore project in the German North Sea for £36.7m, its first investment in the sector.
Some £15.7m secured the company’s first move into renewables in North America taking an interest in the Sterling wind farm in New Mexico.
It also invested in two wind farms each in France and Australia and one each in Germany and the UK.
John Laing said it also offloaded two wind farms – Dungavel and New Albion – for £50m in 2016.
Europe, Asia-Pacific and North America will continue to be the main focus for renewable energy projects, with wind, solar and biomass schemes in John Laing’s pipeline.
For example, the company has a 43.35% interest in the under construction 15MW Speyside combined heat and power biomass plant in Scotland.
The overall renewables pipeline was worth £451m at the end of 2016, the company said.
The company’s total portfolio value in 2016 was almost £1.176bn, up from £841.4m the previous year.
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