Gore Street Energy Storage Fund is London's first energy storage fund supporting the transition to low carbon power, with exposure to the UK and internationally, targeting a 7% yield. Building a diversified portfolio of projects, the Fund already has several operational assets in the portfolio and 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 has also successfully acquired and managed storage assets in the UK, Ireland, Western Europe and the United States*.
*Perfect Power transaction signed, not yet completed
The Fund invests in a diversiﬁed portfolio of utility scale energy storage projects located in the UK and internationally. 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 - The Company targets dividends in each financial year based on a 7% yield on the average NAV per Ordinary Share during that financial year, subject to a minimum target of 7p per Ordinary Share in each financial year. The annual target dividend will increase by 0.5p increments per Ordinary Share based on a certain progression of the average NAV per Ordinary Share in any financial year above 100 pence (subject to rounding). The target dividend is supported by 10-12% Project target IRR. The targeted dividend was paid in the 2019, 2020 and 2021 fiscal years
- 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 (Chair), Caroline Banszky, Malcom (Max) King and Thomas Murley