GCP Infrastructure raising £64m debt to fund onshore wind investment
GCP Infrastructure Investments has entered into a conditional commitment to subscribe for two new loan notes for a consideration of around £64m, it announced on Monday.
The FTSE 250 company said the notes, if issued, would be used to finance an investment in the subordinated debt and shareholder interests of an operational onshore wind project located in the UK.
“The project is in receipt of renewable obligation certificates, a government-sponsored mechanism for promoting renewable electricity generation in the UK,” the GCP board said in its short statement.
“The investment, if made, will be funded by the company from its available resources at the relevant time.”