John Laing Environmental Assets Group (JLEN) has acquired stakes in two solar parks, totaling 25.4MW, in the UK for £20.37m.
The company bought all the B shares and other economic interests from Green Nation’s 10.7MW Monksham solar project near Frome in Somerset, which is accredited for 1.6 Renewables Obligation Certificates (ROCs).
JLEN will take over operational management of the project. The company provided a loan for the repayment of construction finance.
The other acquisition is related to the 14.7MW Branden solar project, which features two separate solar parks near Bodmin in Cornwall and is accredited for 2 ROCs.
JLEN increased its 64% interest in the project to 100% under its first offer agreement with John Laing.
The company said both projects are unaffected by the recent Department of Energy & Climate Change announcements on the Renewables Obligation.
The acquisitions increase the total capacity of the company’s renewable energy assets portfolio to 103.1MW.
JLEN chairman Richard Morse said: "It is pleasing to have been able to deliver these acquisitions shortly after completing a successful fundraising.
"They demonstrate the Company’s ability to acquire assets from parties other than John Laing in parallel with the continuing successful operation of our First Offer Agreement with John Laing. Passing the 100MW mark is also a significant milestone for the Company."