Laing to invest $76MM in renewable energy developments

John Laing Plc. announced a $76 million investment in onshore wind and photovoltaic power projects in Britain and Sweden this year, according to a Bloomberg.

The investments will go to five developments throughout 2013, just a year after completing five deals, including three wind and two solar projects.

Although John Laing focuses on northern Europe such as the United Kingdom, it also is investing in markets in Australia and North America to expand its portfolio and bring in additional opportunities over the next 18 months, Bloomberg reported.

Head of renewable energy for John Laing, Ross McArthur, said the company will use debt to fund as much as 70 percent of the five developments in 2013. 

John Laing is entering into more investments in the European renewable energy sector as countries across Europe attempt to increase their clean energy usage. 

Sweden currently receives 47 percent of its energy from clean sources and hopes to increase that number to half by 2020. According to the report, the United Kingdom hopes to get 15 percent of energy from clean sources by the same time period, up from approximately 9.4 percent.

Learn more about the Swedish energy report in PennEnergy's research area.

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