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Gresham House Energy Storage Fund reports uptick in NAV per share in Q3

By BFN News | 10:03 AM | Tuesday 27 October, 2020


Renewable energy fund Gresham House Energy Storage Fund reported an increase in net asset value per share amid increased acquisition activity in the third quarter of the year. Net asset value as at 30 September 2020 was 100.77p per share, an increase of 2.61p per share. 'The third quarter of 2020 has been another very active period. Bloxwich was acquired on 3 July while Thurcroft and Wickham, totalling 100MW, are expected to be acquired shortly, since both are commissioned and operational,' the company said. 'The 10MW extension of the Glassenbury project is also expected to be operational by mid-November,' it added. 'The acquisition of project river was also expected to reach completion in the near future.' The company separately announced a Q3 2020 dividend of 1.75p per a share, resulting in dividends of 5.25p per share relating to the first three quarters of 2020. The company also reaffirmed expectations of 7.0p in dividends for 2020. 'With 48.5GW of renewables, expected to rise by at least 10GW within four years, and only c.1.1GW of energy storage, the manager believes that the energy storage market is significantly under penetrated in the United Kingdom and Ireland,' Gresham House said. At 10:03am: (LON:GRID) share price was 0p at 111.5p Story provided by StockMarketWire.com

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