John Laing Group plc announced that it is investing in Sunraysia Solar Farm. John Laing will invest AUD$108.6 million in the project, buying a 90.1% stake from Maoneng Group.

John Laing Group plc, the international originator, active investor and manager of infrastructure projects, announced that it is investing in Sunraysia Solar Farm, the Company’s first solar project in Australia. John Laing will invest AUD$108.6 million in the project, buying a 90.1% stake from Maoneng Group, a renewable energy investment and development company. “We are very pleased to secure our first solar investment in Australia, further enhancing our renewable energy portfolio in the APAC region. After carefully evaluating a number of solar opportunities in the market over the last two years, we have invested in Sunraysia Solar Farm, an asset that supports our model to create value through the successful delivery of greenfield infrastructure. At the current rate of investment in new wind and solar power, Australia could reach 50% renewables in 2025, well ahead of many other industrialised nations. This will help the country to meet its Paris Agreement commitments to reduce greenhouse gas emissions by more than a quarter and we are glad be part of it.” Justin Bailey, John Laing Regional Managing Director - Asia Pacific