JLEN Raising $70 Million to Buy Clean-Power Plants, Repay Debt

John Laing Environmental Assets Group Ltd., a U.K. infrastructure investor, plans to raise 45 million pounds ($70 million) with an issue of new shares to repay debt and buy low-carbon power projects.

“The company is now well placed for the next phase of growth that this equity raising will allow us to achieve,” Chairman Richard Morse said in an e-mailed statement Wednesday.

The company has paid dividends of 6 pence a share, as planned at the time of its initial public offering, he said.

Its portfolio includes onshore wind, solar, water and waste management facilities in the U.K. JLEN bought three solar plants for 42.5 million pounds in April after borrowing 50 million pounds from HSBC Holdings Plc and NIBC Bank NV last year.

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