John Laing completes divestment of Irish wind farm to Greencoat

John Laing Group plc, the responsible investor and active manager of infrastructure projects internationally, today announces that it has completed the sale of its Irish wind farm, Glencarbry, to Greencoat Renewables plc for a total consideration of EUR 31.2 million (before divestment costs), equivalent to approximately US$37.13 million. 

This sale value represents a 6% premium to John Laing’s book value for the asset on 31 December 2020 and is equivalent to a money multiple on its investment of 1.3 times.  

Located in County Tipperary in the Republic of Ireland, Glencarbry wind farm has a total capacity of 35.6MW.  Glencarbry was acquired by John Laing in 2015 and brought into operation in 2017, and has an operational track record of over three and a half years.