Further to the announcement of the announcement that GIG is to build a HVDC Cable factory at Port of Tyne, the Company anticipates it will be seeking estimated funding over the next year of:
- £35 million for the build-up of GIG Services and for the expenditure necessary to reach FID on the Factory; and to work towards FID on ASC (“FID Working Capital”)
- Construction capital at FID, including potentially up to £4.5bn in in debt, equity and grant funding for both the HVDC Factory and for ASC at FID
- Potential funding for the acquisition of subsea cable assets, both operational and in development.