Even before its recent acquisitions, JLEN Environmental Assets (JLEN) could already boast the most diversified portfolio of its peers. A change in investment policy, approved by shareholders in March 2021, allowed it to invest in a wider universe of environmental infrastructure assets that supports the transition to a low-carbon economy. Since then, we have seen JLEN’s first investment in a biomass-fuelled combined heat and power plant, a co-investment in a battery storage asset, and the purchase of a stake in an Italian energy-from-waste plant. Each of these investments is discussed in this note. JLEN is well-positioned to continue to expand, aided by an innovative three-year £170m revolving credit facility (RCF) that, recognising the tangible societal benefits derived from its portfolio, has an interest rate that is tied to JLEN’s environmental, social and governance (ESG) performance (see page 5 for more details).
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On the front foot
- Published:
05 Aug 2021 -
Author:
James Carthew | Matthew Read | Jayna Rana -
Pages:
20
Even before its recent acquisitions, JLEN Environmental Assets (JLEN) could already boast the most diversified portfolio of its peers. A change in investment policy, approved by shareholders in March 2021, allowed it to invest in a wider universe of environmental infrastructure assets that supports the transition to a low-carbon economy. Since then, we have seen JLEN’s first investment in a biomass-fuelled combined heat and power plant, a co-investment in a battery storage asset, and the purchase of a stake in an Italian energy-from-waste plant. Each of these investments is discussed in this note. JLEN is well-positioned to continue to expand, aided by an innovative three-year £170m revolving credit facility (RCF) that, recognising the tangible societal benefits derived from its portfolio, has an interest rate that is tied to JLEN’s environmental, social and governance (ESG) performance (see page 5 for more details).