StockMarketWire.com - Infrastructure investor John Laing Group left its full-year outlook unchanged amid increased investment activity, though added that mixed operational performance of certain renewable assets in its portfolio could weigh on performance.

Its renewable energy assets in Europe faced operational performance issues, mainly driven by low level of wind, on some legacy assets in Germany and Ireland, which together represented 7.5% of the investment portfolio at 31 December 2018.

In Australia, the company experienced transmission issues relating to marginal loss factors - the portion of energy that is lost when electricity is transmitted across the transmission and distribution networks, due to resistance - in three of its assets.

‘We are currently assessing the full impact of these issues on our portfolio value and this will be reflected in our interim results. Furthermore, we have already identified a number of opportunities to mitigate any impact,’ the company said.

Still realisations were on track to reach nearly £1bn between 2019 to 2021, in line with three-year guidance following £131m of proceeds from realisations completed to date, including the sale of stakes in Optus Stadium and Rocksprings wind farm.

Investment activity was also in line with three-year guidance underpinned by strong pipeline, the company said.

‘£7 million of investment commitments completed to date and advanced negotiations on two investments for more than £130 million, expected to complete in Q3 2019, the company added.



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