John Laing, a UK-based infrastructure investment firm, announced that it invested in renewable energy projects in Australia and U.S.
John Laing invested A$108.6 million ($76.6 million) for a 90 percent stake in the 255-megawatt peak Sunraysia Solar Farm in New South Wales, Australia, where construction is due to start later this year and end by the fourth quarter of 2019.
By investing at the pre-construction stage, the firm expects to add value as the contractual arrangements for the solar farm, which will determine its future revenue and costs.
Furthermore, John Laing acquired two utility-scale solar projects in North Carolina, U.S., for a combined investment of $34.8 million.