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LONDON - Gresham House Renewable Energy VCT 2 PLC has reported significant progress in the sale of its remaining assets, following previous announcements and its annual report earlier this year. Key advancements include the resolution of grid connection issues at the South Marston project and the successful negotiation of warranty claims for equipment replacement at two of its projects.
The South Marston project, which faced uncertainties due to the closure of the Honda (NYSE:HMC) factory in Swindon, has now reached an agreement with the new landowner and the company’s lenders. This agreement is expected to eliminate risks associated with power export from the site, which had been a concern for potential buyers.
Additionally, the Investment Advisor has secured warranty claims for the replacement of equipment at two projects. This is anticipated to enhance output and generate additional revenue once the new equipment is operational.
The Board is currently in discussions with several interested parties regarding the sale of the company’s assets. These recent developments are believed to make the assets more appealing to potential buyers. Despite the prolonged and challenging nature of the sales process, the Board remains committed to maximizing shareholder value and aims to conclude a sale by late summer. Further announcements will be made as the process continues.
The information reported is based on a press release statement from Gresham House Renewable Energy VCT 2 PLC.
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