Extension of £1.5 m revolving credit facility to Celtic Sea Power Ltd
The council decided to let Celtic Sea Power keep borrowing up to £1.5 million until March 2030, but at a higher interest rate of 6 % instead of 3.69 %, with a review scheduled for March 2029.
Individual Decision Day·2026-01-28·Approved
Description
The Cabinet approved extending the existing £1.5 m revolving credit facility to Celtic Sea Power Limited until 31 March 2030, with an interest‑rate uplift from 3.69 % to 6.00 % and a review milestone by March 2029.
Individual Votes
No individual votes recorded.