Gore Street Energy Storage Fund is the first UK pure play energy storage fund, targeting a 7% yield. Building a diversified portfolio of projects, the Fund already has two operational assets in the portfolio and both with multiple revenue streams in place.
The Fund is overseen by a highly experienced Investment Management Team, with a total of over 75 years of private equity and asset management experience. The investment team's track-record is predominantly focused on energy and infrastructure and also has successfully acquired and managed storage assets in the UK.
Investment Proposition
The Fund will invest in a diversiļ¬ed portfolio of utility scale energy storage projects primarily located in the UK. It targets a sustainable and attractive dividend over the long term. The Company also seeks to provide investors with an element of capital growth.
- Established technology - the lithium-ion battery is a well-established technology that enables multiple revenue streams stacked within a single asset. Batteries have up to 15-years warranty from suppliers, however, the fund is ultimately battery technology agnostic
- Large pipeline - GSF has a strong project pipeline from its wide industry network
- High yield - annual dividend target of 7% of NAV (subject to a minimum target of 7p per Ordinary Share) after year 1 supported by 10-12% Project target IRR, and has a target dividend of 4% of NAV (subject to a minimum of 4p per Ordinary Share) for the period from Admission to 31 March 2019
- Blue chip - commercial partners and strong strategic partnerships
- Experienced Investment Manager - with a track record in storage and extensive experience and expertise in sourcing, structuring and managing large renewable energy projects globally
- High quality independent Board - Patrick Cox (Chairman), Caroline Banszky, Malcom (Max) King and Thomas Murley
RNS Announcements
EPC Contracts Confirmation
21 November 2018
European Court of Justice Ruling on UK Capacity Market
16 November 2018
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