Gore Street Energy Storage Fund

Gore Street Energy Storage Fund is the first UK pure play energy storage fund, 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 invests in a diversified portfolio of utility scale energy storage projects primarily located in the UK. 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 - annual dividend target of 7% of NAV (subject to a minimum target of 7p per Ordinary Share) after year 1 supported by 10-12% Project target IRR
Blue chip - commercial partners and strong strategic partnerships
Experienced Investment Managee - with a track record in storage and extensive experience and expertise in sourcing, structuring and managing large renewable energy projects globally

:nauseated_face: :nauseated_face: :face_vomiting:

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Fund it not fully invested yet and 7% dividend of NAV is targeted after year 1.

Battery storage is becoming more vital to balancing the grid with increasing renewable penetration, just as renewables have been a growth story of the last 10 years, energy storage will likely be for the next decade.

Don’t disagree with the trend just don’t want to pay through the nose for it.

Your not, I believe the high charge cost for last year is due to the setup of the trust.

“5. Fees and expenses
Expenses of the Initial Issue The expenses of the Initial Issue include fees and commissions payable under the Placing and Offer Agreement, Receiving Agent’s fees, admission fees, printing, legal and accounting fees and any other applicable expenses which will be met by the Company and paid on or around Initial Admission out of the gross proceeds of the Initial Issue. The costs and expenses of the Initial Issue are not expected to exceed approximately 2.0 per cent. of the gross proceeds of the Initial Issue.”

I imagine at best it will fall in line with the other green energy producers funds and have a running cost of around 1.5 to 2% all the same.

I’ll have to sit this one out, I sold out of all the green funds in my portfolio.

Lots of positive news about Gore Street in recent weeks

https://www.proactiveinvestors.co.uk/companies/news/924343/gore-street-energy-returns-over-10-as-battery-usage-ramps-up-924343.html

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They were on Primary Bid for a long long time at 96.1p, a 3.2% discount - https://primarybid.com/offer/92