Overview
Gresham House Energy Storage seeks to provide investors with an attractive and sustainable dividend over the long term by investing in a diversified portfolio of utility-scale operational energy storage systems, which utilise batteries and may also utilise engines, located in Great Britain.
Gresham House Energy Storage will invest in a diversified portfolio of utility scale energy storage systems (‘‘ESS Projects’’), which utilise batteries and may also utilise generators. The ESS Projects comprising the portfolio will be located in diverse locations across Great Britain. Individual projects will be held within special purpose vehicles into which the Company will invest through equity and/or debt instruments. It is intended that each ESS Project Company will hold one project but an ESS Project Company may own more than one project. The company will typically seek legal and operational control through direct or indirect stakes of up to 100 per cent. in such ESS Project Companies, but may participate in joint ventures or co-investments, including, without limitation with other investors or entities managed, operated or advised by the Gresham House Group, where this approach enables the company to gain exposure to assets within the company’s investment policy, the like of which the company would not otherwise be able to acquire on a wholly-owned basis. In such circumstances the company will seek to secure its shareholder rights through protective provisions in shareholders’ agreements, co-investment agreements and other transactional documents.
You can access the company’s website here
GRID : Gresham House Energy Storage
Fundamentals
Price
Research History
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17 Oct 2023 14 min read
QuotedData’s Investment Companies Quarterly Review – Third Quarter 2023
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13 Oct 2023 10 min read
QuotedData’s Investment Companies Roundup – October 2023
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06 Oct 2022 111 min read
QuotedData’s Economic and Political Monthly Roundup October 2022
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19 Jun 2020 1 min read
QuotedData’s weekly roundup 19 June 2020
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07 May 2020 4 min read
QuotedData’s Economic Roundup – May 2020
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17 Apr 2020 1 min read
QuotedData’s weekly roundup 17 April 2020
James Carthew’s weekly news roundup show for Friday, 17th April, covers a wide range of topics and includes an interview with Tony Dalwood, CEO of Gresham House, which has just taken on the management of Strategic Equity Capital. Listen back here This was our second weekly roundup and the format we evolve over time. If […]
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11 Sep 2019 3 min read
QuotedData’s economic roundup – September 2019
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19 Dec 2018 1 min read
QuotedData’s investment companies roundup – December 2018
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News
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30 Nov 2024 1 min read
QuotedData’s weekly news show 29th November 2024
Thank you to everyone that listened in today on our YouTube channel. In this week’s show, James Carthew covered the week’s top stories: Harmony Energy Income (0:40) Gresham House Energy Storage (2:51) Caledonia Investments (5:40) This week we hosted a panel discussion between Thomas Moore from abrdn Equity Income, David Moss from CT UK High Income Trust […]
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29 Nov 2024 3 min read
Gresham House Energy Storage sets out three-year plan
Gresham House Energy Storage (GRID) has published a trading update and the highlights of its three-year plan, which were presented at its capital markets day on 27 November 2024. In its trading update, GRID says that its financial position is improving. Its capital allocation policy in 2024 has focused on cash preservation which it says […]
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11 Nov 2024 2 min read
Gresham House Energy Storage confident portfolio revenues will rise in 2024
Gresham House Energy Storage (GRID) has issued a trading update which says that its manager is confident that operational portfolio revenues will rise in 2024 compared with 2023. There has been an improving trend since the low in the first quarter of 2024, both as portfolio capacity grows and as revenue per MW rates recover. […]
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06 Nov 2024 1 min read
QuotedData’s morning briefing 6 November 2024 – GABI, BOOK, GRID, CREI
In QuotedData’s morning briefing 6 November 2024: GCP Asset Backed Income Fund (GABI) announced a quarterly dividend in respect of the period from 1 July 2024 to 30 September 2024 of 1.58125 pence per ordinary share. The board also confirms that the second compulsory redemption will total £45.0m at a price of 89.33875 pence per […]
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09 Sep 2024 3 min read
QuotedData’s morning briefing 9 September 2024 – SWEF, GRID, PCTN, AGR
In QuotedData’s morning briefing 9 September 2024: Starwood European Real Estate Finance (SWEF) has published its interim results for the six months ended 30 June 2024. SWEF says that it has made positive realisation progress during the half year with a total of £102.1m, 38.9 per cent of the Group’s 31 December 2023 total funded […]
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04 Jul 2024 1 min read
QuotedData’s morning briefing 4 July 2024 – PCFT, ADIG, GRID
In QuotedData’s morning briefing 4 July 2024: Polar Capital Global Financials (PCFT) has published six-month numbers covering the period ended 31 May 2024. The trust beat its benchmark, returning 18.2% in NAV terms and 23.3% in share price terms versus 15.9% for the MSCI All Countries World Financials Index. [We covered many of the reasons […]
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07 Jun 2024 1 min read
QuotedData’s weekly news show 7th June 2024
Thank you to everyone that listened in today on our YouTube channel. In this week’s show, James Carthew covered the week’s top stories: • Gresham House Energy Storage (0:32) • Octopus Renewables Infrastructure (10:14) • Hipgnosis (12:35) Andrew McHattie from The Investment Trust Newsletter (13:45) This week’s interview was with Olivia Macdonald from Majedie Investments […]
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05 Jun 2024 1 min read
Gresham House Energy Storage secures revenues for half its portfolio
Gresham House Energy Storage (GRID) has announced that 14 of its projects, representing 568MW/920MWh, have secured fixed price contracts with a subsidiary of Octopus Energy, the UK’s largest electricity provider. This will provide two-year fixed-price contracts for approximately half of the company’s 1,072MW target portfolio starting in a phased manner from 1 July 2024. Octopus […]
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13 May 2024 1 min read
QuotedData’s morning briefing 13 May 2024 – ROOF, GRID, JZCP, FSFL
In QuotedData’s morning briefing 13 May 2024: Atrato Onsite Energy (ROOF) has announced that it has made two solar investments, totalling £6.4m. It acquired a portfolio comprising 7.3MW of solar PV systems situated on two commercial sites in the UK which benefit from corporate offtake arrangements with fixed uplifts. Both are located on automotive manufacturing […]
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29 Apr 2024 3 min read
GRID forced to suspend dividends on falling earnings
Gresham House Energy Storage Fund (GRID) has released its annual results for the 12 months ending 31 December 2023. GRID’s NAV per share declined 17% to 129.07p as of 31 December 2023, down from 155.51p at the end of 2022. This was largely driven by a significant reduction in third-party revenue forecasts impacting project valuations. […]
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24 Apr 2024 2 min read
QuotedData’s morning briefing 24 April 2024 – APAX, ORIT, CAT, CATC, GRID, OCI
In QuotedData’s morning briefing 24 April 2024: Apax Global Alpha (APAX) is investing about €8m (through its investment in Apax Digital II) into IANS, “a leading provider of tech-enabled research and advisory services in the information security industry”. The transaction is expected to close in Q2 2024. Octopus Renewables Infrastructure (ORIT) has signed a power […]
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19 Apr 2024 4 min read
Gresham House Energy Storage suspends dividends and buybacks for 2024
Gresham House Energy Storage (GRID) has published a trading update in advance of the publication of its annual results for the year ended 31 December 2023 expected on 29 April 2024. GRID’s chair, John Leggate, says “The BESS sector, the Company and its shareholders are going through the most challenging operating environment since the Company’s […]
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23 Feb 2024 2 min read
QuotedData’s morning briefing 23 February 2023 – RSE, GRID, JSGI, GRIO
In QuotedData’s morning briefing 23 February 2023: Riverstone Energy (RSE) has announced a tender offer for up to 15,047,619 of its ordinary shares, representing 35.66% of the existing shares in issue, to be purchased at a price of £10.50 per share. This price represents a premium of c.14% to the closing market price of £9.20 […]
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02 Feb 2024 1 min read
QuotedData’s weekly news show 2nd February 2024
Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on YouTube. In this week’s show, James Carthew covered the week’s top stories: • Batteries – Gresham and Harmony (0:56) • Digital 9 Infrastructure (9:40) Andrew McHattie explained how it has been a better month for growth stocks […]
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4 min read
Harmony Energy Income follows GRID in slashing dividend
Following a similar announcement from Gresham House Energy storage (GRID – click here to see our coverage of this from yesterday), Harmony Energy Income Trust (HEIT) has also issued a trading update ahead of the publication of its quarterly Net Asset Value update and audited annual results later this month. Like GRID, HEIT says that […]
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4 min read
QuotedData’s morning briefing 2 February 2024 – AGA, GRID, HGT, BCPT, RGL, GCP, SHIP, GABI, VEIL, CGL
In QuotedData’s morning briefing 2 February 2024: On 1 February 2024, Apax XI Fund announced that it had closed the acquisition of WGSN, a consumer trend forecaster, from Ascential Plc. Apax Global Alpha (AGA), which is a limited partner in Apax XI, says that it has invested approximately €21.5m in WGSN on a look-through basis […]
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01 Feb 2024 5 min read
Gresham House Energy Storage slashes dividend
Gresham House Energy Storage has published a trading update ahead of the publication of its results in April 2024. It says that it is still impacted by a weak revenue environment, due to a combination of: battery energy storage (BESS) still being significantly under-utilised in National Grid ESO’s Balancing Mechanism – its forum for trading […]
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22 Dec 2023 3 min read
QD – review of the year
This is the last of our weekly emails for 2023. We hope that you have been finding them useful. We will be publishing our annual roundup in January. Ahead of that however, I thought it might be worth pulling out a few of the year’s highs and lows. In January, China’s market shone as hopes […]
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15 Dec 2023 1 min read
QuotedData’s morning briefing 15 December 2023 – GRID, GSCT
In QuotedData’s morning briefing 15 December 2023: Gresham House Energy Storage (GRID) has announced that, on 12 December 2023, the National Grid Electricity System Operator has successfully launched its new “open balancing platform” and “bulk dispatch optimiser ” and started using it to trade battery energy storage systems in the balancing mechanism. The grid’s inability […]
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21 Nov 2023 1 min read
QuotedData’s morning briefing 21 November 2023 – GRID, MTU, SREI
In QuotedData’s morning briefing 21 November 2023: Gresham House Energy Storage (GRID) says that its 50MW West Didsbury project has been successfully energised, taking the portfolio’s operational capacity to 690MW. It is expected to be revenue generating in December. Installing two-hour batteries at West Didsbury in early 2024 will take the capacity of the site […]
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19 Oct 2023 2 min read
Gresham House Energy Storage says UK battery storage market looking brighter
Gresham House Energy Storage’s share price has been weak since its half-year results, when it revealed that low utilisation of batteries by National Grid ESO (ESO) in the power grid’s balancing mechanism was affecting the entire Great British battery energy storage industry. ESO hosted an event on 16 October called ‘Enhancing Energy Storage’ to provide […]
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07 Sep 2023 2 min read
QuotedData’s morning briefing 7 September 2023 – GRID, IEM, SWEF, SOHO, HOME
In QuotedData’s morning briefing 7 September 2023: Gresham House Energy Storage (GRID) reports a fall in its NAV and a -3.5% return for the six months ended 30 June 2023. Most of the negative impact comes from lower revenue forecasts (these took 15.5p off the NAV). The discount rate used to value the portfolio has […]
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11 Aug 2023 4 min read
QD view – Renewables – an inevitable part of our future?
For some time, the trajectory of renewable energy infrastructure trusts appeared inexorable: the march to decarbonisation was inevitable, government backing a given and the regulatory environment supportive. However, in spite of some significant financial backing for renewable energy development, global governments appear to be wavering on their commitment to net zero, and the public backlash […]
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25 May 2023 2 min read
QuotedData’s morning briefing 25 May 2023
In QuotedData’s morning briefing 25 May 2023: Gresham House Energy Storage (GRID) raised £50m from its placing and retail offer. Less than its £80m target but not a bad result in the current environment. 32,154,341 shares will be issued at a price of 155.5p. 30,584,387 of these shares will be issued via the placing and […]
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19 May 2023 1 min read
QuotedData’s weekly news show 19th May 2023
Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on YouTube. In this week’s show, James Carthew covered the week’s top stories: • abrdn Japan (0:36) • BioPharma Credit (8:02) • Gresham House Energy Storage (13:12) This week’s interview was with Michael Anderson from Aquila Capital European Renewables – […]
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18 May 2023 2 min read
Gresham House Energy Storage targets £80m fundraise
Gresham House Energy Storage Fund has announced a proposed placing of shares to institutional investors and a separate offer of shares on the REX platform (the “Retail Offer”) available to existing UK-based retail shareholders of the company. Targeted gross proceeds are approximately £80m, of which the maximum size of the Retail Offer will be capped […]
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06 Apr 2023 2 min read
Gresham House Energy Storage returns boosted by government inaction
Gresham House Energy Storage has announced its audited annual results for the year ended 31 December 2022. 2022 performance highlights NAV total return (TR) of 39.1%, mostly driven by revaluation of new projects and increases in third-party revenue forecasts [Share price total return not disclosed in the report but we think it was 29.1%] EBITDA of […]
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03 Nov 2022 1 min read
QuotedData’s morning briefing 3 November 2022
In QuotedData’s morning briefing 3 November 2022: Gresham House Energy Storage (GRID) has announced that it has agreed £155m of additional debt through an accordion facility on its existing senior debt facilities that were secured in September 2021. The interest rate remains unchanged at SONIA + 3%, while the term of the debt facility has […]
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27 May 2022 1 min read
QuotedData’s weekly news show 27th May 2022
Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on YouTube. In this week’s show, James Carthew covered the week’s top stories: • Windfall taxes: NextEnergy Solar, Greencoat UK Wind, Bluefield Solar • Fundraising: Gresham House Energy Storage, Home REIT This week’s interview was with Paul Bridge […]
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2 min read
Gresham House Energy Storage rakes in £150m
Gresham House Energy Storage (GRID) has announced that its placing, which was announced 25 May 2022, has raised gross proceeds of £150 million. The proceeds, in conjunction with GRID’s available debt facilities, will allow it to fund the majority of its existing pipeline. GRID says that the placing was significantly oversubscribed and a scaling back […]
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08 Apr 2022 1 min read
QuotedData’s weekly news show 8th April 2022
Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on YouTube. In this week’s show, Jayna Rana covered the week’s top stories: Fundraising HydrogenOne Capital Growth Supermarket Income REIT International Public Partnerships Portfolio updates Gresham House Energy Storage NextEnergy Solar Cordiant Global Agriculture Income This week’s interview […]
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06 Apr 2022 2 min read
Gresham House Energy Storage mulls international opportunities as it seeks approval to change investment policy
Gresham House Energy Storage mulls international opportunities as it seeks approval to change investment policy – Gresham House Energy Storage (GRID) has published its full-year results for the 12 months to 31 December 2021. During the period under review the trust achieved a NAV total return of 20.3% and a share price total return of […]
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28 Feb 2022 2 min read
Gresham House Energy Storage – auction bakes in NAV uplift
Gresham House Energy Storage – auction bakes in NAV uplift The National Grid’s recent T-1 and T-4 Capacity Market auctions took place on 15 and 22 February. These both cleared at record prices. These relate to contract start dates occurring one and four years respectively after the most recent 1st of October, in these instances […]
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01 Feb 2022 2 min read
QuotedData’s morning briefing 1 February 2022
In QuotedData’s morning briefing 1 February 2022: Augmentum Fintech (AUGM) published an update on its portfolio. One interesting fact is that, while publicly listed fintech companies have fallen from an average 15.2x revenue at end June 2021 to 9.2x revenue in recent months, AUGM’s portfolio is valued on 4.2x. Over the second half of 2021, […]
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20 Sep 2021 2 min read
Gresham House Energy Storage agrees five year debt facility after solid start to 2021
Gresham House Energy Storage agrees five year debt facility after solid start to 2021 – Gresham House Energy Storage (GRID) has agreed a new five year £180m debt facility with a syndicate of banks including Commonwealth Bank of Australia, Lloyds Bank, NatWest and Santander. The facility comprises a £150m capex term facility and a £30m […]
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3 min read
QuotedData’s morning briefing 20 September 2021
In QuotedData’s morning briefing 20 September 2021: Ecofin US Renewables Infrastructure (RNEW) has completed its acquisition of Echo Solar Portfolio’s largest asset, which it signed an agreement to acquire in July. The portfolio includes 12 solar photovoltaic projects, which are at construction stage and are expected to be completed and to commence operations in phases […]
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12 Jul 2021 1 min read
Gresham House Energy Storage raises £100m to fund pipeline projects
Gresham House Energy Storage raises £100m to fund pipeline projects – Gresham House Energy Storage (GRID) has raised gross proceeds of £100m through the issue of 89,285,714 ordinary shares of 1p per share following a placing announced earlier this month. The placing was significantly oversubscribed and a scaling back exercise was undertaken. GRID intends to […]
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01 Jul 2021 2 min read
Gresham House Energy Storage acquires new projects and announces placing to take on more
Gresham House Energy Storage acquires new projects and announces placing to take on more – Gresham House Energy Storage (GRID), has signed contracts for the acquisition of a further 425MW of projects from Gresham House Devco (the ‘current pipeline’) of which 275MW are proceeding into construction with commissioning targeted for Q1 2022 and the remaining 150MW […]
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28 Apr 2021 2 min read
Strong results from Gresham House Energy Storage as UK renewables momentum gathers pace
Gresham House Energy Storage (GRID) reported annual results to 31 December 2020. The NAV total return came to 8.4% and the share price total return was 10.8%. Ben Guest, GRID’s manager, noted: “The UK’s global leadership in renewable generation and in its setting of ambitious decarbonisation targets, continues to make it one of the world’s most attractive […]
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23 Apr 2021 2 min read
QD view – Backing the future
QD view – Backing the future One of the things that I love about the investment company sector is that your investments can make a difference. Buying a share in Diageo won’t lead to exciting innovation in the drinks industry. Buying a share in a bog-standard UK equity fund probably won’t have much of an […]
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22 Apr 2021 2 min read
QuotedData’s morning briefing 22 April 2021
In QuotedData’s morning briefing 22 April 2021: Hammerson (HMSO) has further reduced its debt having exchanged unconditional contracts on the portfolio sale of its seven retail park assets to Brookfield for £330m cash proceeds. This represents an 8% discount to the 31 December 2020 book value of £357m and an 8.6% net initial yield. This transaction […]
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01 Feb 2021 1 min read
Latest acquisition increases Gresham House Energy Storage’s operational portfolio to 395MW
Gresham House Energy Storage (GRID) has acquired a 35MW battery project located in North Shields, Tyne and Wear and a 10MW battery project located in Essex. This transaction follows GRID’s recent acquisitions of two 50MW projects (Wickham and Thurcroft) and the 25MW Tynemouth project (click here to read more). The acquisition increases GRID’s operational portfolio to 395MW. GRID notes that […]
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11 Jan 2021 2 min read
Gresham House Energy Storage seals 25MW Tynemouth acquisition
Gresham House Energy Storage (GRID) has completed the acquisition of a 25MW battery project located in North Shields, Tyne and Wear (Tynemouth). Tynemouth follows GRID’s recent acquisitions of the 50MW Wickham and 50MW Thurcroft projects and was acquired from Enel Global Thermal Generation S.R.L. Tynemouth is a battery-only site with circa 25MW export/import capacity and is connected to the distribution network. […]
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24 Dec 2020 2 min read
QuotedData’s morning briefing 24 December 2020
In QuotedData’s morning briefing 24 December 2020: Gresham House Energy Storage has conditionally agreed to acquire a c.30MW battery project located near Wester Dechmont, Livingston in West Lothian, Scotland. Byers Brae is a battery-only site with a c.30MW/30MW export/import capacity which is currently expected to be commissioned in the second quarter of 2021. The project is […]
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30 Nov 2020 1 min read
Gresham House Energy Storage completes Wickham project
Gresham House Energy Storage completes Wickham project – Gresham House Energy Storage Fund has completed its investment in the 50MW battery project located near Wickham Market, Suffolk. Wickham follows GRID’s recent acquisition of the Thurcroft project (pictured) and was acquired for a total enterprise value of £32.75m (plus up to £0.75m of deferred contingent consideration). Wickham is a battery-only site […]
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25 Nov 2020 1 min read
QuotedData’s morning briefing 25 November 2020
In QuotedData’s morning briefing 25 November 2020: Gresham House Energy Storage has successfully raised gross proceeds of £120m through the issue of 114,285,714 shares at 105p. The issue was oversubscribed. The money will enable the company to finance up to six new near-term acquisitions totalling 245MW. RDL Realisation says that it intends for the company to become […]
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10 Nov 2020 2 min read
Gresham House Energy Storage prepares to grow with new share issuance programme
Gresham House Energy Storage (GRID), currently the UK’s largest fund investing in utility-scale energy storage systems, is set to grow after announcing a new share issuance programme to be conducted over the next 12 months. The initial placing and offer for subscription are launching today. In the announcement, GRID says that “it intends to build on its […]
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02 Nov 2020 2 min read
QuotedData’s morning briefing 2 November 2020
In QuotedData’s morning briefing 2 November 2020 – Downing Strategic Micro-Cap (DSM) reported interim results for the six months ended 31 August 2020. The NAV increased by 22.5% from the March 2020 low-point, but was down 5.5% over the period, on a per-share basis. Chairman, Hugh Aldous, noted the following: “I said in May that we […]
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14 Oct 2020 1 min read
QuotedData’s morning briefing 14 October 2020
In QuotedData’s morning briefing 14 October 2020 – Gresham House Energy Storage (GRID) announced that it has raised approximately £15.0m through the issuance of a mixture of short-term and medium-term secured power bonds. The majority of the proceeds will be used to acquire an operating asset which is in the final stages of due diligence with an agreement […]
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01 Sep 2020 1 min read
QuotedData’s morning briefing 1 September 2020
In QuotedData’s morning briefing 1 September 2020: CIP Merchant Capital has sold its interest in Circassia Group, a specialty biopharmaceutical company focused on respiratory diseases and quoted on AIM, for approximately £3.9m, resulting in a net profit of £1.1m. Circassia is the first investment that CIP Merchant Capital has sold. It made a 1.4 times cash on […]
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07 Jul 2020 1 min read
QuotedData’s morning briefing 7 July 2020
In QuotedData’s morning briefing 7 July 2020: Gore Street Energy Storage raised £23.7m by issuing 24,627,365 new ordinary shares at 96.1p. 3m of those went to JXTG Nippon Oil & Energy Corporation Gresham House Energy Storage is issuing £15m of bonds (which it is calling GRID Power Bonds) with a coupon of 5%. This is the first issue […]
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03 Jul 2020 2 min read
Gresham House Energy Storage acquires 41MW Bloxwich facility
Gresham House Energy Storage Fund (GRID) has announced that it has completed the acquisition of a 41MW operational energy storage facility known as Bloxwich from a group of investors led by Arenko Cleantech (Arenko). The initial cost is £20.1m, with the potential for further earnout payments. The acquisition of Bloxwhich increases the total capacity of […]
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03 Jun 2020 1 min read
QuotedData’s morning briefing 3 June 2020
Gresham House Energy Storage (GRID) is assessing options to raise debt finance, to fund the acquisition of new battery storage projects. GRID’s previously communicated plans include commissioning a further 190MW of battery storage in 2020, increasing total capacity to 364MW by the end of this year. Civitas Social Housing (CSH), the London-listed REIT dedicated to investing […]
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11 May 2020 2 min read
Gresham House Energy benefits from power price volatility
Gresham House Energy (GRID) has reported an NAV of 101.5p, as at 31 March 2020. GRID said the NAV increased over the quarter, driven by the assets acquired in December being valued at fair market value, which was offset in part by a more conservative set of forecasts driven by lower inflation assumptions, as well as, […]
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27 Apr 2020 4 min read
Inaugural annual results from Gresham House Energy Storage
Renewable energy infrastructure company, Gresham House Energy Storage (GRID), reported its first set of annual results since its launch in November 2018. Performance highlights Net Asset Value of £205.9m, up 6.48% on a total return basis. Driven by portfolio cash generation, improved revenue forecasts and project-level value enhancements. Total dividends for the year of 4.5p […]
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17 Apr 2020 2 min read
Power plays
Gresham House Energy Storage (GRID) announced that it had invested in a new 50MW battery storage project in Suffolk this week. This takes its portfolio to 274MW in total. GRID is one of two listed companies investing in this area, the other being Gore Street Energy Storage (GSF). GRID is quite a bit bigger than […]
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14 Apr 2020 1 min read
Gresham House Energy Storage buys 50MW Suffolk battery project
Gresham House Energy Storage buys 50MW Suffolk battery project – Gresham House Energy Storage Fundhas conditionally agreed to acquire a 50MW battery project located near Wickham Market, Suffolk. The project was in the exclusivity pipeline identified in the October 2018 IPO prospectus. Wickham is a battery-only site with a 50MW/40MW export/import capacity which is currently expected […]
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20 Mar 2020 1 min read
Gresham House Energy announces largest project to date
The battery storage investor, Gresham House Energy (GRID), says it has conditionally agreed to acquire a 50MW battery project located near Thurcroft, to the east of Rotherham. The Project will be GRID’s largest project to date, and part of the exclusivity pipeline identified in the Company’s October 2018 IPO prospectus. Thurcroft is a battery-only site with […]
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03 Mar 2020 1 min read
QuotedData’s other news 3 March 2020
In QuotedData’s other news 3 March 2020: AEW UK Long Lease REIT has changed its name to Alternative Income REIT Gresham House Energy Storage managed to raise £31m, despite the ongoing market volatility. It will issue 30m shares at 104p each. The dispute between Pollen Street Secured Lending and its manager, Pollen Street Capital rumbles on. […]
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07 Feb 2020 1 min read
QuotedData’s other news 7 February 2020
In QuotedData’s other news 7 February 2020 Gresham House Energy Storage is calling an EGM as it tries to raise money to fund “a significant, operational project which the vendor has advised has the potential for expansion to over 50MW“. US Solar Fund says its fraud is “an isolated incident originating from outside the Investment Manager […]
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29 Jan 2020 1 min read
Renewable energy funds under attack from brokers
Renewable energy funds under attack from brokers – Shares in many renewable energy funds slumped yesterday as first Chris Brown of JPMorgan and then Matthew Hose of Jefferies said they were overvalued. Their analysis (which we can’t show you and you can’t get hold of unless you work for a large investment firm and pay […]
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02 Jan 2020 2 min read
Gresham House Energy completes 49MW Red Scar battery storage investment
Gresham House Energy Storage Fund (GRID) has announced has completed its investment in the 49MW battery-only project known as Red Scar. The Project, which is located on the Red Scar Business Park, by the Longridge Road and the M6 outside Preston, was acquired for a total enterprise value of approximately £32.8m (inclusive of £1.0m of […]
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16 Dec 2019 1 min read
QuotedData’s other news 16 December 2019
In QuotedData’s other news 16 December 2019 – Gresham House Energy Storage (GRID) acquired two operational battery storage facilities totalling 50MW from VLC Energy, a joint venture between Low Carbon and VPI Immingham a subsidiary of Vitol Group, for £29.2 million. The facilities comprise a 40MW facility at Glassenbury, Kent, and a 10MW facility at […]
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21 Oct 2019 1 min read
Gresham House Energy Storage buys Preston project
Gresham House Energy Storage buys Preston project – Gresham House Energy Storage Fund has entered into a conditional agreement to acquire a 49MW battery project located on the Red Scar Business Park, by the Longridge Road and the M6 outside Preston. This is one of the exclusivity portfolio projects identified in the IPO prospectus published in […]
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11 Oct 2019 1 min read
QuotedData’s other news 11 October 2019
In QuotedData’s other news 11 October 2019 – HICL Infrastructure announced the completion of the acquisition of the transmission assets associated with the Race Bank Windfarm, located off the coast of Norfolk, by Diamond Transmission Partners, a consortium comprising HICL and Diamond Transmission Corporation (a subsidiary of Mitsubishi Corporation). Gresham House Energy Storage raised gross proceeds […]
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03 Oct 2019 1 min read
QuotedData’s other news 3 October 2019
In QuotedData’s other news 3 October 2019 3i Infrastructure will issue up to 81m new shares through a placing. The price will be determined through a book build – where investors say what price they are prepared to pay and the deal is done at the highest price that allows the fund to issue all the […]
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20 Aug 2019 1 min read
QuotedData’s other news 20 August 2019
In QuotedData’s other news 20 August 2019 – Empiric Student Property (ESP) has reported half-year results to 30 June 2019; revenue grew by 14% to £35.7m while EPRA NAV was up 2%. In the manager’s report, ESP said that the UK higher education sector continues to both grow and polarise. There is strong demand for […]
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1 min read
Gresham House Energy completes 5MW grid level battery storage investment
Gresham House Energy completes 5MW grid level battery storage investment – Gresham House Energy (GRID) has announced that it has completed its investment in a symmetrical 5MW battery-only project based in Wolverhampton for a total enterprise value of approximately £3.5m. The project is one of the exclusivity portfolio projects identified by the company in its IPO prospectus […]
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12 Jul 2019 1 min read
QuotedData’s other news 12 July 2019
In QuotedData’s other news 12 July 2019 FastForward Innovations has swapped its stake in Intensity Therapeutics for shares in Portage Biotech, a Canadian listed company part-owned by Jim Mellon (a director of FastForward). Portage has no revenue but the value of the Portage shares FastForward is getting implies a small uplift in FastForward’s NAV. Aberdeen Standard […]
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11 Jul 2019 1 min read
QuotedData’s other news 11 July 2019
In QuotedData’s other news 11 July 2019 Gresham House Energy Storage is placing more shares today at 105p (a discount from the share price of 109.5p but at a premium to NAV. The placing is only open to institutional investors. We also have results from Invesco Asia and the sharp drop in Chelverton UK Dividend’s share […]
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28 May 2019 1 min read
QuotedData’s other news 28 May 2019
In QuotedData’s other news 28 May 2019: A new fund – Riverstone Credit Opportunities : RCOI – starts trading today, having raised $100m from professional investors to lend money to energy (mainly oil and gas) companies CQS New City High Yield announced that an administrative error had led to it overstating its NAV between 25 April […]
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26 Apr 2019 2 min read
QuotedData’s other news 26 April 2019
Gresham House Energy Storage has announced that it believes it will be fully invested by the end of the year. It is seeking to issue up to 75m new shares via a placing. Cantor Fitzgerald are running this, the closing date is 3pm on 24 May, the price is 101p – a premium to NAV […]
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19 Nov 2018 3 min read
ECJ ruling hits battery storage funds
ECJ ruling hits battery storage funds – Gore Street Energy Storage and Gresham House Energy Storage comment on ruling The European Court of Justice (ECJ) has ruled that the UK’s capacity market mechanism (which enables generators and battery projects to bid for contracts to provide back-up power to the grid during times of peak demand) […]
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07 Oct 2024 1 min read
Investment trust winners and bargains worth backing
by Dave Baxter, Investors Chronicle, October 4, 2024: Markets have not exactly been moving sideways in 2024. The S&P 500 has returned nearly 15 per cent in sterling terms over the first nine months of the year, with the FTSE All-Share making more than 10 per cent. Equity fund investors have had plenty to enjoy, […]
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02 Aug 2024 1 min read
Deep Dive: Early signs of recovery drive cautious optimism for energy storage trusts
Valeria Martinez, Investment Week, 2 August 2024: Shareholders of London’s battery energy storage trusts have had to stomach severe volatility since the last quarter of 2023, but early signs of recovery are starting to provide grounds for longer-term optimism. The sell-off across the three London-listed energy storage trusts so far this year has reflected the […]
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18 Jun 2024 2 min read
Investment trust insider on US infrastructure
Investment trust insider on US infrastructure – James Carthew: Power up your portfolio with US infrastructure trusts While there may be some political noise in the run up to the presidential election, the long-term case for investments in US renewable infrastructure is pretty solid. While all eyes have been on the meteoric rise of Nvidia, […]
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10 Jun 2024 1 min read
Investment trust insider on GRID’s tie-up with Octopus
Investment trust insider on GRID’s tie-up with Octopus – James Carthew: Could Octopus stretch to a bid for battery funds? Following a ‘landmark’ deal with Gresham House Energy Storage, Octopus could do the same with for-sale Harmony Energy as its next contract in two years. Life in the investment companies sector continues to be eventful. […]
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19 Mar 2024 1 min read
Have investment trust dividend cuts created bargains?
by Dave Baxter, Investors Chronicle, March 19, 2024: While far from universally popular among investors, dividend cuts can sometimes be a blessing in disguise. They can drive share prices down to attractive levels while also allowing companies to put cash to better use. This is a premise that can feed into how some funds are […]
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23 Feb 2024 1 min read
How to value investment trusts’ private assets
by Val Cipriani, Investors Chronicle, February 21, 2024: The valuations of private assets have increasingly come under scrutiny in the past two years, as inflation and higher interest rates sent listed company values on a rollercoaster but left the likes of private equity relatively untouched. Private investors typically get exposure to private assets through investment […]
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05 Feb 2024 1 min read
Investment trust insider on battery funds
Investment trust insider on battery funds – James Carthew: Blame imbalanced National Grid for battery funds’ woes In recent weeks, the share prices of the three battery storage funds have nosedived, more than reversing the modest gains they had made since it started to become clear that interest rates had peaked last October. Gresham House […]
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01 Feb 2024 1 min read
Gresham House Energy Storage scraps dividend in ‘challenging’ year
BY GAVIN LUMSDEN, Citywire Investment Trust Insider, 1 Feb 2024: Gresham House Energy Storage Fund (GRID) has scrapped its fourth quarter dividend, blaming grid connection delays and under-utilisation of battery balancing mechanism for falling UK revenues. In a fourth quarter update, the company also said the ‘continued excessive use’ of legacy gas-fired power stations was […]
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18 Dec 2023 1 min read
Bagging a bargain: 13 investment trusts pros say offer great value
by Jennifer Hill from interactive investor, 18th December 2023: Investors looking to bag a bargain need look no further than the investment trust sector where risk-off sentiment has this year sent discounts to levels not seen since the financial crisis. At the end of 2021 – before the war in Ukraine fuelled energy and food […]
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13 Dec 2023 2 min read
The infrastructure trust with narrowing discounts
by Val Cipriani, Investors’ Chronicle, December 13, 2023: Infrastructure trusts have seen their average discounts to net asset value (NAV) narrow in the past month, as the decline of government bond yields brought some good news for the sector. But not all the trusts recovered to the same degree, overall discounts remain wide and the […]
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03 May 2023 1 min read
Investment trust insider on Next Energy Solar
Investment trust insider on Next Energy Solar – James Carthew: NextEnergy’s recycling is a boost to renewables News from NextEnergy Solar (NESF) that the company plans to sell some of its assets and use the proceeds to reduce debt, fund its pipeline and pay for share buybacks could be a much-needed shot in the arm […]
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20 Dec 2022 1 min read
Falling at the first hurdle
Cherry Reynard, Trustnet Magazine, 20 December 2022: There was widespread optimism in the world of investment trusts at the start of 2022… However, as soon as Russia invaded Ukraine in February, all bets were off. This set off a chain of events, with disruption to commodity markets pushing up inflation, leading to higher interest rates […]
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31 Oct 2022 1 min read
Investment trust premiums: when to buy and when to avoid
by Faith Glasgow, from interactive investor, 31st October 2022: This year’s market turbulence, culminating in the vigorous response to the previous chancellor’s mini-budget in September, has hit investment trusts painfully. The FTSE All Share Closed End Investment index is down around 20% year-to- date, compared with the FTSE All-Share, which has lost around 10%. According […]
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12 Jul 2022 1 min read
Why these defensive investments will continue to deliver
Sam Benstead from interactive investor, 12th July 2022: Amid a sea of red this year, one sector is flashing green: infrastructure and renewables. Investors have had very few places to hide this year, as higher interest rates and inflation spark an exodus from the stock market. Year-to-date, US shares have fallen around 20% (S&P 500 […]
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1 min read
The best renewable energy infrastructure trusts
By Cherry Reynard, Investors’ Chronicle, July 6, 2022: Amid febrile stock markets, renewable energy infrastructure trusts should be a rare sweet spot. They offer inflation protection at a time of double-digit price rises, high dividends when income is scarce and access to renewables as policymakers strive to decarbonise. They are also exposed to rising power […]
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07 Jun 2022 1 min read
Investment trust insider on windfall taxes
Investment trust insider on windfall taxes – James Carthew: Windfall tax confusion shows UK is a risk for renewables investors It was good to see Bluefield Solar Income (BSIF) announce it had managed to raise £150m in an oversubscribed share issue before the Jubilee holiday. This follows a similar-sized fundraise by Gresham House Energy Storage […]
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15 Nov 2021 1 min read
Renewable trust NAV declines are unnerving some investors
QuotedData’s James Carthew looks at how declining forecasts of long-term power prices are impacting renewable investment trusts ESGClarity, 15 November 2021 / Opinion Following a successful £210m new issue from Harmony Energy Income, there are now 20 companies in the AIC’s renewable energy sector and at least two more – Atrato Onsite Energy and ThomasLloyd Energy […]
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2 min read
The alternative trusts allowing investors to capture new trends
Investment trusts enjoy record year for fundraising as they back a new wave of innovation November 11, 2021, Investors Chronicle, By Mary McDougall Investment trust fundraising amounted to £11.4bn in the first 10 months of the year, a record for the ancient fund structure which is now financing a new wave of innovation. Most striking is the […]
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1 min read
Renewable energy fuels new wave of investment trusts
Mary McDougall NOVEMBER 11 2021 Investment trusts focused on infrastructure, particularly those involved in renewable energy projects, have boomed this year as income-hungry investors and those wishing to back the energy transition have flocked to participate in record numbers of share issues. There is little sign of this momentum losing pace. One energy efficiency trust, […]
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15 Jan 2019 1 min read
Investment Trust Insider update on battery storage
Investment Trust Insider update on battery storage – James Carthew: battery funds back renewables revolution A few weeks ago I looked at Gresham House Strategic (GHS). This week, it is the turn of Gresham House Energy Storage (GRID), a £100 million new issue in 2018 and the second energy storage fund to list after Gore Street Energy […]
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20 Dec 2018 1 min read
2018 new issue review
2018 new issue review – QuotedData’s James Carthew talks to Citywire’s Jen Hill about 2018’s clutch of new issues Investors were given an eclectic mix of opportunities within alternatives, in contrast to recent years when high-yielding propositions drove the vast majority of launches. The return of private equity and private equity like strategies – Augmentum […]