John Laing agrees to divest stakes in two US wind farms
The John Laing Group has announced the execution of a share purchase agreement with Abu Dhabi Future Energy Company (Masdar) to divest its interest in two wind farms in the United States.
Under the terms of the acquisition, Masdar will acquire John Laing’s interest in the Rocksprings wind farm in Texas and the Sterling wind farm in New Mexico.
The transaction is expected to close in the first half of 2019 as it is subject to the standard government and financing partner consents process.
Olivier Brousse, John Laing's Chief Executive Officer, said "We are pleased to have partnered with Akuo on Rocksprings and Sterling wind projects. This investment realization with Masdar will release capital to recycle into new greenfield opportunities in the US and internationally where we remain committed to our strategy investing in renewable energy and other infrastructure.”