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LONDON (Alliance News) - GCP Infrastructure Investments Ltd said Thursday it will invest GBP80 million in an offshore UK wind project.
The infrastructure investment fund has entered into a commitment to subscribe for a series of loan notes, the proceeds of which shall be used to finance investment in an operational wind project. The investment will be funded by the company from its existing resources.
The offshore wind project is in receipt of renewable obligation certificates, a government-sponsored mechanism for promoting renewable electricity generation in the UK.
Shares in the company were trading 0.4% higher at 120.92 pence.