Videos

Close Video

Overview

JLEN Environmental Assets Group Limited  (“JLEN” or the “Company”) is an environmental infrastructure investment fund which aims to provide shareholders with a sustainable dividend, paid quarterly, that increases progressively in line with inflation, and to preserve the capital value of its portfolio on a real basis over the long term through the reinvestment of cash flows not required for the payment of dividends.

JLEN’s investment policy is to invest in a diversified portfolio of environmental infrastructure projects that have the benefit of long‑term, predictable, wholly or partially inflation‑linked cash flows supported by long‑term contracts or stable regulatory frameworks.

At 31 March 2020, the portfolio included onshore wind, PV solar, anaerobic digestion, hydro, battery storage and waste & wastewater processing projects in the UK and two onshore wind projects in France. The wind, solar, hydro and anaerobic digestion projects are supported by the UK’s and France’s commitment to low-carbon energy generation targets, whilst the waste & wastewater processing projects benefit from long‑term contracts backed by the UK Government.

www.jlen.com

Directors

Richard Morse (Chairman)
31 years in energy and infrastructure. Partner at Opus Corporate Finance, where he leads the environmental energy practice

Richard Ramsay (Snr Ind Director)
Considerable experience in energy sector and closed-end fund sectors. Current Chair of Seneca Global Income & Growth Trust plc.

Christopher Legge (Director)
Previously head of Audit and Accountancy at Ernst & Young.

Other Directors: Denise Mileham, Peter Neville, Stephanie Coxon

Financials

P&L2020
£~000
2019
£~000
Operating income(4,190)59,247
Operating expenses(6,493)(5,895)
Profit for the year(10,683)53,352
Basic and diluted EPS (2.1p)12.2p
Dividend per share6.76p6.51p
BALANCE SHEET2020
£~000
2019
£~000
Cash or cash equivalents1,7621,849
Total assets534,734521,902
(Total liabilities)(1,720)(1,563)
Net assets533,014520,339
Net assets per share97.5104.7

Peer Group

  • Greencoat UK Wind Plc (LSE: UKW): invests in UK wind farms
  • NextEnergy Solar Fund Limited (LSE: NESF): invests in UK solar power plants

Major Shareholders

  • Newton IM – 8.61%
  • Valu Trac IM – 5.72%
  • Legal & General – 5.65%
  • Smith & Williamson – 4.57%
  • Baillie Gifford – 4.54%
  • John Lain Pension Fund – 4.02%
  • Architas – 2.69%
  • Brooks Macdonald – 1.77%

Macro Indicators

Cazenove Capital (May 2020): How coronavirus is turning the spotlight on sustainable investing
“…social and environmental challenges, and investment drivers, are increasingly overlapping. As a result, environmental and social problems are increasingly clear financial risks, moving up corporate agendas to drive long-term strategy and growth plans. As investors, our ability to examine companies and separate winners from losers has improved as corporate sustainability reporting has become mainstream.”

Media coverage

The London Economic (May 2020)
“JLEN Environmental Assets – Reliable source of income”

Shares Magazine (June 2019)
“John Laing Environmental looks beyond wind and solar: Anaerobic digestion, biomass and hydro power could be part of its future”

Broker Coverage

Stifel (March 2019)
“We expect the acquisition activity to continue in the months ahead, primarily in the environmental processing area, such as Anaerobic Digestion, where deal pricing appears more favorable than for solar or wind…. We see the 5.8% prospective dividend yield as relatively attractive and it is good to see the portfolio being diversified with it now being exposed to around 30 investments.”

Submit your details to be kept up to date with announcements regarding 'JLEN'

We have a strict data protection policy and will not share your details with external parties.