John Laing has offloaded the 14.4MW New Albion wind farm in England to group company John Laing Environmental Assets (JLEN).
JLEN said it paid £11.8m in cash to its parent company for the project near Kettering in Northamptonshire.
New Albion, comprising seven Senvion MM92 turbines, has been operating since January.
The acquisition, closed under the first offer agreement between the partners, was funded through JLEN’s revolving credit facility.
The facility was increased to £75m this month to reflect the increased asset base of the investor following its recent equity fundraising, the fund said.
JLEN now owns 173.4MW of renewable energy assets.
Image: John Laing
