GCP Infrastructure provides solar funding

GCP Infrastructure provides solar funding – The board of GCP Infrastructure says that the company has subscribed for three new loan notes for a consideration of c.GBP105 million. The loan notes, with an expected term ranging between 22 and 24 years, will be used to provide funding for the acquisition of twenty two ground mounted and six rooftop solar asset portfolios located across the UK.

The projects are all eligible for subsidy payments under either the Renewable Obligation Certificates (“ROCs”) or the UK Government’s Feed-In Tariff Scheme, both of which are adjusted in line with RPI.

The subscription for the loan notes has been funded by the company from the proceeds of its recent placing and its revolving credit facility. The loan notes have been issued by Gravis Asset Holdings Limited, Gravis Solar 1 Limited and Gravis Solar 2 Limited, intermediary companies set up for these purposes.

GCP : GCP Infrastructure provides solar funding

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