John Laing Environmental Assets (JLEN) has proposed to raise up to £65 million through a new share placing in order to pursue a pipeline of solar assets in the UK.

The asset management group intends to offer new ordinary shares in the company to institutional investors from 12 May 2016 to 26 May, with the net proceeds being used to repay the company’s revolving credit facility and provide additional capital for acquisitions.

JLEN also confirmed that it has drawn the majority of its revolving credit facility which it broke into last month to purchase the Pylle Southern Solar Park.

The intent to chase further acquisitions is yet more evidence towards a burgeoning secondary market in the UK, with a number of investment vehicles such as Bluefield and Foresight also confirmed to be lining up significant asset purchases.

Earlier this month Foresight Solar confirmed a major refinancing of its credit facilities in order to push ahead with further acquisitions, and Bluefield said in October that it is eyeing a 258MW project pipeline.

Speaking to Solar Power Portal earlier this month Lightsource chief executive Nick Boyle estimated that as much as 1GW worth of utility-scale solar is currently up for sale in the UK.