John Laing Group plc (LON:JLG), the international active investor and partner behind responsible infrastructure, has today announced that it has entered into a purchase and sale agreement with an affiliate of Capital Power Corporation for the sale of its interest in Buckthorn Wind farm.
Buckthorn is a 100MW wind farm located in Erath County, approximately 60 miles south of Dallas, Texas. Since we first committed to invest in Buckthorn in mid-2017, the final stages of construction and a refinancing have been completed and Buckthorn has successfully ramped up to steady state operations.
The purchase price is consistent with our latest valuation and the sale is expected to complete in the second quarter of 2020 subject to regulatory approvals and customary closing conditions.
Luciana Germinario, John Laing Group Chief Financial Officer and Chair of the Group’s divestment committee, commented:
‘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.’