John Laing takes UK bio interest
Renewables investor secures minority interest in 5MW Icknield Farms project
John Laing Environmental Assets Group has invested in the 5MW Icknield Farm anaerobic digestion (AD) plant in the UK.
The investment consists of debt to repay existing loans and the acquisition of a minority equity stake in the project for about £11m.
The plant, located in Ipsden, South Oxfordshire, was commissioned in December 2014 and mainly produces biomethane which is exported to the national gas grid.
The plant also has a 0.4MW CHP combined heat and power engine and is accredited under the renewable heat incentive and feed-in-tariff.
The Icknield Farm AD plant is JLEN's second investment in the sector, having recently acquired the Vulcan plant near Doncaster.
JLEN chairman Richard Morse said: "We are pleased to make a further investment in the anaerobic digestion sector through the Icknield Farm AD plant, which has a proven operational history.
“The AD sector is attractive to JLEN due to the high proportion of inflation-linked revenues backed by government subsidy regimes, and we look forward to working with our partners in the sector."