John Laing invests in electric bus concessions
John Laing Group ("John Laing" or the “Group”), a leading international investor and active manager of core infrastructure assets, today announced that it has agreed to acquire two electric bus concessions in Bogotá, Colombia: the Electribus Bogotá Fontibón II concession and Electribus Bogotá USME I S.A.S. concession (together “Electribus”).
John Laing is acquiring the concessions from Somos K, Fondo Ashmore Andino II – FCP and Ashmore Andean Fund II, LP (Canada). The transaction is expected to complete during Q3 2022, subject to customary conditions.
Electribus is an availability-based public-private partnership project with concessions that run until 2035 and 2036 respectively. The concessions provide a total of 259 electric buses to Transmilenio, the public transport authority of Bogotá, and are operated through a separate contract by Somos, a Colombian public transport operator.
Ben Loomes, Chief Executive of John Laing Group, commented:
"Electribus was one of Bogota’s first fleets of electric buses. The city is committed to the electrification of transport and now has more than 1,400 electric buses, which is currently the largest electric bus fleet of any city in Latin America. This investment builds on our track record of working successfully with local government authorities on transport projects with international partners."