John Laing bags solar parks
With the acquisition, the infrastructure provider marks its entry into the solar energy market with a 100% investment into two operational solar projects: Five Oaks in Billingshurst, West Sussex and Fryingdown, near Basingstoke, Hampshire.
Both parks will benefit from long-term FiT payments, fixed for 25 years as well as secure contracts allowing exported renewable energy to one of the UK’s six major energy suppliers.
Andy Harmer, head of the company’s Environmental Infrastructure said: "The unique nature of the deal is a significant milestone in the development of the John Laing business in the renewable energy sector".
The engineering, procurement and construction contractor and operator for the parks is Wirsol Operations, supported by Stepnell, while the financial and legal advisors are WHEB Infrastructure and DLA Piper respectively.