|
GCP Infrastructure Investments Ltd on Monday said it has continued to assess the level of constraint for two onshore wind projects in Northern Ireland that participate in the Irish single electricity market, as it posted a small decline in net asset value during its first financial quarter. GCP Infrastructure said net asset value per share fell 1.1% to 100.27 pence at December 31 from 101.40p at September 30, when its financial year ended. The firm is advised by Gravis Capital Management Ltd, the closed-ended investment company aiming to pay dividends and preserve capital from exposure to UK infrastructure debt and similar assets. GCP Infrastructure said it continued to assess the level of curtailment and constraint for two wind projects in Northern Ireland that participate in the Irish single electricity market, adding that this resulted in a negative movement of 0.21p per share. Further, the UK government’s amendment, to the indexation applied to the renewable obligation buy out price and feed-in-tariffs, will mean a reduction in NAV per share of 0.53p, GCP Infrastructure said. The UK government last week Wednesday announced that it will amend the indexation and feed-in-tariffs to be based on the consumer price index from April, a switch away from being based on the retail price index. The company announced a dividend of 1.75p per share, unchanged from a year prior. Meanwhile, GCP Infrastructure said that some borrowers to whom it has extended loans have exchanged contracts for the disposal of properties that are leased to registered providers for the provision of supported housing. The proceeds of such disposals, if completed, will repay £47.5 million of loans and generate day one cash proceeds of £43 million, it added. Completion is subject to finalisation of the purchaser’s lending arrangement which is expected before the end of March. GCP Infrastructure shares were 0.3% lower at 75.78 pence each on Monday afternoon in London. Copyright 2026 Alliance News Ltd. All Rights Reserved.
|
