Appointment of Non-Executive Director

RNS Number : 7056A

Gresham House Energy Storage Fund

27 September 2022

 

27 September 2022

Gresham House Energy Storage Fund plc

("GRID" the "Company" or the "Fund")

APPOINTMENT OF NON-EXECUTIVE DIRECTOR

Gresham House Energy Storage Fund plc, the UK's largest fund investing in utility-scale battery energy storage systems (BESS), is pleased to announce the appointment of Isabel Liu as an Independent Non-Executive Director of the Company with effect from 1 October 2022. Isabel will also serve on several of the Company's key sub-committees.

Isabel's career investing equity in infrastructure worldwide includes billion-dollar private funds for AIG in Asia, ABN AMRO in Europe and pension schemes in the UK.  She has served as a non-executive representing UK transport users.  Isabel is also a director of Schroder Oriental Income Fund Limited and Utilico Emerging Markets Trust plc.

John Leggate CBE, FREng, Chair of Gresham House Energy Storage Fund plc, commented:

"We are delighted to welcome Isabel Liu to the Board as a Non-Executive Director. Isabel brings a depth of knowledge in investment management and, in addition, a richness of international experience in infrastructure investment. The Board and the Manager very much look forward to working with Isabel."

In accordance with the Listing Rules, no further information is required to be disclosed pursuant to LR9.6.13R.

For further information, please contact:

Gresham House New Energy Ben Guest Rupert Robinson	[phone]
KL Communications Charles Gorman Charlotte Francis Millie Steyn	[phone]
JTC (UK) Limited as Company Secretary Christopher Gibbons	[phone]

About the Company and the Manager:

Gresham House Energy Storage Fund plc seeks to provide investors with an attractive and sustainable dividend over the long term by investing in a diversified portfolio of utility-scale battery energy storage systems (known as BESS) located in Great Britain, Northern Ireland, and the Republic of Ireland. In addition, the Company seeks to provide investors with the prospect of capital growth through the re-investment of net cash generated in excess of the target dividend in accordance with the Company's investment policy.

The Company targets an unlevered Net Asset Value total return of 8% per annum, calculated net of the Company's costs and expenses. 

Gresham House Asset Management Limited is the FCA authorised operating business of Gresham House plc, a London Stock Exchange quoted specialist alternative asset manager. Gresham House is committed to operating responsibly and sustainably, taking the long view in delivering sustainable investment solutions.  www.greshamhouse.com

Definition of utility-scale battery energy storage systems (BESS)

Utility-scale battery energy storage systems (BESS) are the enabling infrastructure that will support the continued growth of renewable energy sources such as wind and solar, essential to the UK's stated target to reduce carbon emissions. They store excess energy generated by renewable energy sources and then release that stored energy back into the grid during peak hours when there is increased demand. BESS also provide Frequency Response services to National Grid whereby batteries import and export power with the aim to keep real-time supply and demand in near-perfect balance while also protecting against unexpected outages of major power plants. 

 

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