John Laing Environmental Assets Group posted a profit before tax of £6.2m in the six months to 30 September 2015.
The environmental infrastructure fund said its portfolio of wind, solar and waste management facilities was valued at £217.6m, up from £197.7m at the end of March.
The fund made two acquisitions during the period totalling £20.4m, which brought the size of its portfolio to 103.1MW.
JLEA said overall its performance was “satisfactory” in the period and in line with expectations with the “exception of wind speeds during the summer, which were significantly lower than the long-term average for that time of year”.
But, JLEA added, “in terms of operational availability, the assets have performed at or above expectations and operational efficiencies are beginning to be realised as the portfolio expands”.
Looking forwards, the fund chairman Richard Morse said JLEA “actively continues to seek suitable projects to add to its portfolio”.
A share issue in July raised £65m, which was used to pay down debt and acquire more projects.
Image: John Laing’s Bilsthorpe wind farm (John Laing)
John Laing posts pre-tax profit
Environmental infrastructure fund makes £6.2m in first half of year
By EBS