United States

United States

John Laing enters US market

UNITED STATES: Infrastructure company John Laing has made its first investment in the US wind sector, acquiring a stake in a 29.9MW project in New Mexico.

GE's 2.3MW turbine will be installed at the Sterling project in New Mexico
GE's 2.3MW turbine will be installed at the Sterling project in New Mexico

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The UK-based firm has agreed to invest $20.5 million in the Sterling project, in Lea County, New Mexico, southern US.

The US arm of French company Akuo Energy is developing Sterling. As well as investment from John Laing, Akuo has agreed financing arrangements with German bank BayernLB and GE Energy Financial Services.

Sterling will comprise 13 GE 2.3MW turbines with 116-metre rotors. Power from the site will be bought by the Western Farmers Electric Cooperative for 15 years.

"While the Sterling design and engineering process has been initiated, Akuo Energy USA is close to completing the financing of a further 150 MW wind project in the fourth quarter and working diligently to pursue the development of an additional 350MW in the United States," said Akuo Energy CEO Thomas Cote.

It is not John Laing's first new sector in recent months. In August, the company made its first investment in offshore wind with the acquisition of a 30% stake in WPD's 111MW Nordergrunde project in Germany. 

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