John Laing Group to invest €45-50m in wind farm in Germany
In addition to John Laing’s investment of €45-50m, the Klettwitz wind farm will be refinanced with new project finance. The acquisition remains conditional on securing satisfactory project financing and certain other conditions.
John Laing agrees to invest approximately €45-50m in the purchase of 100% of the repowered Klettwitz wind farm in Brandenburg Schipkau, Germany. The final value will be confirmed at Financial Close.
Total installed capacity is 89 MW from 27 wind turbines after repowering, replacing previous total installed capacity of 59 MW from 36 turbines at the legacy wind farm previously in operation at the site. The project benefits from a feed in tariff for up to 20 years.
Financial close is expected before November 30, 2015. ■