GCP Infrastructure Investments (LSE:GCP) has completed the sale of two operational onshore wind projects, Winscales Moor and Burton Wold, with combined generating capacity of around 26.5MW.
The infrastructure investment company, advised by Gravis Capital Management, sold the projects at a around 13% premium to their valuation in the company's net asset value at 31 March.
Day-one cash proceeds total approximately £10.3 million, with a further £0.8 million of tax-related proceeds expected shortly and £0.6 million in deferred consideration tied to milestones.
The cash will be deployed under the company's published capital allocation policy, which has set a goal of reducing exposure to equity-like interests in the onshore wind sector.
A separate disposal of supported social housing assets, expected to repay around £47 million of loans, continues to progress toward completion in the coming months.
The company's revolving credit facility remains fully undrawn.
News Intelligence what this means for the company
GCP Infrastructure sold two onshore wind projects (26.5 MW combined) for £10.3 million in day-one cash at a 13% premium to their March carrying value, executing its stated strategy to reduce equity-like exposure in onshore wind. The proceeds will be redeployed under the company's capital allocation policy, while a larger £47 million social housing asset sale remains in progress and the revolving credit facility stays undrawn—positioning the company for flexibility but offering no material surprise on valuation or capital management.
The sale confirms GCP is executing its published wind-sector exit strategy and realizing assets above book value, but provide no signal of material portfolio rerating or capital return acceleration.
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