John Laing Environmental Assets group has added to its burgeoning rooftop portfolio with the acquisition of an operational portfolio for almost £10 million.
The asset management firm has paid £9.7 million for a portfolio of 303 operational residential and commercial rooftop and ground-mount installs with a total capacity of 2.3MW.
JLEN confirmed that all installations are eligible for and in receipt of feed-in tariff payments, and that the acquisition comprises a number of SPVs financed and owned by Venture Capital Trusts.
The acquisition extends on a deal signed with VCT earlier this month for a larger portfolio, taking the business conducted between the two parties to circa 6.5MW.
JLEN funded the acquisition using a draw-down from its £50 million revolving credit facility.