It looks like your browser is not up to date.
This means our website may not look and work as you would expect. Read more about browsers and how to update them here.

Skip to main content
  • Register
  • Help
  • Contact us

John Laing sells Irish windfarm, buys into German FTTP firms

Thu 01 April 2021 07:58 | A A A

No recommendation

No news or research item is a personal recommendation to deal. Hargreaves Lansdown may not share ShareCast's (powered by Digital Look) views.

(Sharecast News) - Infrastructure investor John Laing said it had sold its Glencarbry wind farm in Ireland to Greencoat Renewables for €31.2m (£26.6m) as it continued to reduce its exposure to renewable energy assets.

The sale value represents a 6% premium to book value for the asset at December 31, 2020, and is equivalent to a money multiple on its investment of 1.3 times, the company said on Thursday.

Located in County Tipperary, Glencarbry has a total capacity of 35.6MW. It was acquired by John Laing in 2015 and has an operational track record of over three and a half years.

In a separate announcement, John Laing said it was moving into the German internet market, spending €30m on two acquisitions.

The deal involves buying two regional and telecoms businesses in southern and western Germany - EFN eifel-net Internet-Provider and Jobst NET - both are in the early stages of fibre-to-the-premises (FTTP) roll-out programmes, focusing on delivering connectivity to under-served suburban and rural communities in Germany.

Laing said it planned to create a single integrated platform through which to invest further in rolling out FTTP.

"Given the potential growth of the roll-out strategy, this platform represents a material opportunity for further investment by John Laing over time, and which could represent a total equity investment in excess of €100m over the next three years," the company said.

    The value of investments can go down in value as well as up, so you could get back less than you invest. It is therefore important that you understand the risks and commitments. This website is not personal advice based on your circumstances. So you can make informed decisions for yourself we aim to provide you with the best information, best service and best prices. If you are unsure about the suitability of an investment please contact us for advice.

    More company news from ShareCast