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(Sharecast News) - GCP Infrastructure Investments has completed the sale of two onshore wind projects, the FTSE 250 firm announced on Monday.
The closed-end investment firm said day one cash proceeds of around 10.3m had been generated following the sale last month of Winscales Moor and Burton Wold. The two projects, which have a total generating capacity of around 26.5MW, were sold at a 31% premium to the valuation of their net asset value as at March 2026.
A further 800,000 of tax-related proceeds was expected "imminently", GCP added, along with around 600,000 of deferred proceeds.
"The disposal has reduced the company's exposure to equity-like interests in the onshore wind sector," GCP said, "in accordance with the stated objectives of the capital allocation policy."
Proceeds from the sale will be used to support the company's ongoing share buyback programme.
GCP also confirmed that a separate disposal of a supported social housing investment, which will be used to facilitate the repayment of around 47m of loans, was making progress and completion was now due "in the coming months".
GCP is a specialist in infrastructure projects with long-term, public sector-backed availability-based revenues.
As at 0930 BST, the stock was largely flat at 82.14p.
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