Change to Director's Responsibilities

RNS Number : 2841J

Gresham House Energy Storage Fund

12 December 2022

 

1 2 December 2022

GRESHAM HOUSE ENERGY STORAGE FUND PLC

("GRID" or the "Company")

Change to Director's Responsibilities

Gresham House Energy Storage Fund plc (LSE: GRID) the UK's largest fund investing in utility scale battery energy storage systems, announces that Isabel Liu, an Independent Non-Executive Director, has been appointed by the Board as a member of the Company's Audit, Remuneration, Nomination and Management Engagement Committees with effect from 9 December 2022.

For further information, please contact:

Gresham House New Energy Ben Guest	[phone]
Jefferies International Limited Stuart Klein Gaudi Le Roux	[phone] [phone]
KL Communications Charles Gorman Charlotte Francis Millie Steyn	[e-mail] [phone]
JTC (UK) Limited as Company Secretary Christopher Gibbons	[e-mail]   [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 (i) an unlevered Net Asset Value total return of 8 per cent. per annum; and (ii) a levered Net Asset Value total return of 15 per cent. per annum 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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