Gresham House Energy Storage Fund Disclosure of New Directorship

RNS Number : 0486M

Gresham House Energy Storage Fund

25 April 2024

 

25 April 2024

 

Gresham House Energy Storage Fund plc

 

Disclosure of New Directorship

 

In accordance with Listing Rule 9.6.14(2), Gresham House Energy Storage Fund plc (the "Company") announces that David Stevenson, an independent non-executive director of the Company, has been appointed as a non-executive director of Workspace Group PLC with effect from 1 June 2024.

 

JTC (UK) Limited as Company Secretary Christopher Gibbons

[e-mail]  [phone]

For further information, please contact:

LEI: 213800MSJXKH25C23D82

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 and internationally. 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 an unlevered Net Asset Value total return of 8% per annum and a levered Net Asset Value total return of 15% per annum, in each case calculated net of the Company's costs and expenses.

 

Gresham House Asset Management Ltd is the FCA authorised operating business of Gresham House Ltd, a 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.

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