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.
Related decisions
Also from this meeting
- Entry into Section 75 Agreement with Cornwall & Isles of Scilly ICB(Approved)
- Proceed to public consultation on River Camel Local Development Order(Approved)
- Declare listed housing assets surplus to Council requirements(Approved)
- Progress surplus housing assets through Asset Release process(Approved)
- Delegate disposal authority to Head of Property & Assets(Approved)
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- Consultation and Cabinet consideration of Belonging in Cornwall strategy18 Mar 2026 · Approved
- Award of 3‑year security services contract approved18 Mar 2026 · Approved
- Approval of draft “Belonging in Cornwall” strategy18 Mar 2026 · Approved
- Receipt of Crisis and Resilience Fund monies and top‑up allocation18 Mar 2026 · Approved
- Adopt Cornwall Housing Growth Prospectus 2026‑2725 Feb 2026
More budget & finance decisions
- Approve harbour performance and reserve movements19 Mar 2026 · Approved
- Receipt of Crisis and Resilience Fund monies and top‑up allocation18 Mar 2026 · Approved
- Designation of Cornwall Council as Accountable Body for Kernow Industrial Growth Fund and related delegations18 Mar 2026
- Approval of Cornwall Housing and Celtic Sea Power Four‑Year Business Plans and related BEIS funding18 Mar 2026
- Revised revenue forecast and capital programme for 2025/26 noted13 Mar 2026 · Noted