Jlen Environmental Assets Grp Acquisition (7911W)
13 Dicembre 2019 - 8:00AM
UK Regulatory
TIDMJLEN
RNS Number : 7911W
Jlen Environmental Assets Grp
13 December 2019
13 December 2019
JLEN Environmental Assets Group Limited
("JLEN" or the "Company")
Acquisition of an anaerobic digestion plant and associated waste
collection business
JLEN, the listed environmental infrastructure fund, is pleased
to announce the acquisition of a 70% equity stake in Bio Collectors
Holdings Limited ("BCH"). BCH, through its subsidiary companies
holds the rights and operational assets that make up the anaerobic
digestion ("AD") plant and the Bio Collectors waste collections
business.
The consideration is made up of an initial upfront payment,
including working capital, and additional deferred amounts that are
subject to certain conditions being met.
The group of companies is based in Merton, London. The AD plant
was commissioned in December 2013 and has subsequently been
expanded through several phases. The plant has a current thermal
capacity of c.10MWth, a waste processing capacity of up to
100,000tpa and predominantly produces biomethane to be injected to
the national gas grid. In addition, the plant has 1.7MWe of
capacity through two CHP engines and is accredited under the
Renewable Heat Incentive (RHI) and Feed-in-Tariff (FiT) schemes.
The Bio Collectors waste collections business collects
source-separated and packaged food waste for the AD plant from a
variety of commercial, industrial and local authorities located in
and around Greater London utilising an increasing biogas-powered
fleet.
The 70% stake in BCH has been acquired from private individuals,
with the residual 30% retained by the existing owner who will
remain active in the business going forward.
This acquisition represents JLEN's first acquisition into food
waste fuelled anaerobic digestion, further diversifying the
Company's portfolio and increasing the total capacity of renewable
energy assets in the JLEN investment portfolio to 297.9MW.
The acquisition was funded by a draw-down on JLEN's revolving
credit facility.
Richard Morse, Chairman of JLEN, said:
"We are pleased with JLEN's latest investment, which presents a
diversification within the anaerobic digestion sector. This
acquisition of a food waste fed AD plant in London, bridges two sub
sectors of JLEN's existing portfolio, leveraging experience of the
agricultural AD assets and the waste processing assets. The
production of biogas to inject into the national grid and also to
power its own fleet of collection vehicles, underlines the
importance that assets such as these play in the UK's ambition to
decarbonise its energy supply. We also value the opportunity to
continue to work with the existing private shareholder to drive
further value in the investment in future years."
For further information, please contact:
Foresight Group
Chris Tanner
Chris Holmes +44(0)20 3667 8100
Winterflood Investment Trusts
Neil Langford
Chris Mills +44(0)20 3100 0000
Newgate Communications
Elisabeth Cowell
Ian Silvera +44(0)20 3757 6880
Praxis Fund Services
Matt Falla +44(0)1481 755530
About JLEN
JLEN's investment policy is to invest in environmental
infrastructure projects that have the benefit of long-term,
predictable, wholly or partially inflation-linked cash flows
supported by long-term contracts or stable regulatory
frameworks.
Environmental Infrastructure is defined by the Company as
infrastructure projects that utilise natural or waste resources or
support more environmentally-friendly approaches to economic
activity. This could involve the generation of renewable energy
(including solar, wind, hydropower and biomass technologies), the
supply and treatment of water, the treatment and processing of
waste, and projects that promote energy efficiency.
JLEN's aim is to provide investors with an annual dividend that
is sustainable and increases in line with inflation. The target
dividend for the year to 31 March 2020 is 6.66 pence per share. The
dividend is payable quarterly.
Further details of the Company can be found on its website
www.jlen.com
LEI: 213800JWJN54TFBMBI68
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
ACQLIFLRFILVLIA
(END) Dow Jones Newswires
December 13, 2019 02:00 ET (07:00 GMT)
Grafico Azioni Jlen Environmental Assets (LSE:JLEN)
Storico
Da Mar 2024 a Apr 2024
Grafico Azioni Jlen Environmental Assets (LSE:JLEN)
Storico
Da Apr 2023 a Apr 2024