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Prices & Quotes - UK Markets - Jlen Environmental Assets Group Limited NPV (JLEN)

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Down 104.00p
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JLEN takes on hydro projects through acquisition of NHHL

By Josh White

Date: Friday 18 Sep 2020

LONDON (ShareCast) - (Sharecast News) - Environmental infrastructure fund JLEN announced the acquisition of Northern Hydropower Holdings (NHHL) on Friday, for total consideration, including working capital, of 4.74m.
The FTSE 250 company said NHHL owns the equity in Northern Hydropower, which in turn holds the rights to two operational hydro projects, including a co-located operational battery storage system at one of the sites.

It said the assets are located in Yorkshire and Cornwall.

The acquisition represents the company's second investment into run-of-river hydropower and battery storage, which it said further increased the diversification profile of its portfolio of environmental infrastructure projects including wind, solar, anaerobic digestion, waste and wastewater.

NHHL had been acquired from a group of high-net-worth investors, which provided the original funding under an enterprise investment scheme.

The Yorkshire-based assets included Knottingley hydro, which is a 500kW dual turbine hydro project located on the River Aire, commissioned in October 2017, and a 1.2MW battery co-located at Knottingley, commissioned in January 2018.

In Cornwall, the asset is De Lank hydro, which is a 99kW hydro project located on the De Lank River, commissioned in October 2011.

Both hydro projects were accredited under the 20-year feed-in-tariff scheme.

JLEN said the acquisition increased the total capacity of renewable energy assets in its investment portfolio to 304.7 MW.

The acquisition was funded by a drawdown under the company's revolving credit facility.

"We are pleased to make our second investment into run-of-river hydro and battery storage, building upon our existing portfolio in this sector," said chairman Richard Morse.

"As with our other hydro assets, these projects have a proven operational history, benefit from strong contractual revenues and broaden the diversification within the JLEN portfolio."

At 0925 BST, shares in JLEN Environmental Assets Group were down 0.49% at 113.94p.

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.


JLEN Market Data

Currency UK Pounds
Price 104.00p
Change Today -2.00p
52 Week High 123.00p
52 Week Low 103.75p
Volume 3,440,996
Shares Issued 546.72m
Market Cap 568.59m
Beta 0.01

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JLEN Dividends

  Latest Previous
  4th Interim 3rd Interim
Ex-Div 03-Jun-21 04-Mar-21
Paid 25-Jun-21 26-Mar-21
Amount 1.69p 1.69p

Trades for 13-May-2021

Time Volume / Share Price
17:07 297,000 @ 104.00p
16:35 49,096 @ 104.00p
16:29 431 @ 104.40p
16:29 9 @ 104.40p
16:26 2,479 @ 104.61p

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