Gore Street Energy Storage Share Discussion Threads

[atlantic57] 13/11/2023 15:49

Waterloo I struggle to understand what factors lead to a plunge from circ 100p to low sixties and then a sudden recovery .

[waterloo01] 13/11/2023 14:13

Discount on NAV at 76p is 37.5% and divi 9.85%, I'd suggest the boat is still worth getting on board with.

[pottsypotts] 13/11/2023 14:11

Don't know if I have missed the boat with this oneAlready invested in HEIT so hopefully see a rise with the battery storage price going up

[scruff1] 12/11/2023 12:56

Only a short time ago I was feeling cheated by 80p. It was 100 at the end of July

[waterloo01] 12/11/2023 09:50

Back towards the 80p - 90p range?

[scruff1] 12/11/2023 09:36

Lets hope we see the results in our wage packets.

[waterloo01] 11/11/2023 17:54

Battery energy storage wholesale trading revenues rose by 45% from September to October this year, reaching their highest level since December 2022, revealed Modo Energy.

[mirandaj] 09/11/2023 18:27

National Grid link to go with 660 above

[rogerrail] 07/11/2023 18:58

The NG seems very keen to boost storage capacity quickly with a plan to accelerate 20GW of storage connections:hTTps://renews.biz/89282/national-grid-to-speed-up-20gw-of-uk-storage-connections/

[marksp2011] 02/11/2023 12:37

@melody

Yep, that's efficient markets for you

I follow the same discount game as you but for me that is the absolute floor as the dividend flow is incresing as opposed to a standard bond

[melody9999] 02/11/2023 09:50

Mark - 656 - yep thats the gist. Its a simplistic way of explaining the reductions in share price. Re GSF, in the last 2 years they have energised some projects with more to come. I thought the RNS 121023 was quite positive:

The Company remains well-capitalised, with c.£75m in cash or cash equivalents as of 30 September 2023 without any outstanding debt. Of the 187 MW scheduled to come online in GB over the next 9 months, c.85% of the required capex has already been paid. The Company currently remains undrawn on its existing £50m RCF. In addition, the Company continues to progress towards securing USD denominated project-level debt for its Big Rock asset in California.

Since then they have secured debt financing for Big Rock.

so the share price has been beaten down - even more than others - whilst the company continues to progress and diversify by geography to provide increased security of overall revenues.

[mirandaj] 02/11/2023 07:29

Copied over from other thread

For interest:

Dow Jones 19th October

National Grid was awarded a $50 million grant from the U.S. Department of Energy for a project to improve electric-system reliability and resilience.

The company said the project, which will deploy digital technology to optimize the use of distributed energy resources, is expected to lead to greater development and adoption of decarbonized resources, such as solar and energy storage.

The DOE announced the awards on Wednesday. National Grid's proposal, called the Future Grid Project, was chosen from among more than 100 proposals submitted by utilities, industry, academia, and state entities from across the U.S.

The total cost for the Future Grid project is about $140 million. The federal funds will supplement a $90 million investment by National Grid.

[marksp2011] 02/11/2023 04:36

I guess you are saying that you think the risk premium is 4%? So if the risk free rate is 5% then it should be yielding 9%?So JLEN is fairly valued.gSF isn't,t as well developed and is in a more volatile area so if the risk premium is 5%, then the share price is fair value at 75pOk for a valuation for a static income stream but you would hope for a rising divi.

[marksp2011] 02/11/2023 04:26

YeahIf the discount is true as the NAV is real then buy lotsThe share price is reflecting uncertainty and the general withdrawal of funds from the sector.If the NAV is 20% overstated it is still a good dealJust chill and wait

[cocopah] 02/11/2023 03:15

I have sent an email to Gore Street Capital asking a number of questions … the communication of the answers to them might (IMHO) put a shelf under the share price … so far heard nothing but at this level of discount something needs to be done.🤷‍;♂️9763;

[mirandaj] 01/11/2023 21:57

For interest:

Dow Jones 19th October

National Grid was awarded a $50 million grant from the U.S. Department of Energy for a project to improve electric-system reliability and resilience.

The company said the project, which will deploy digital technology to optimize the use of distributed energy resources, is expected to lead to greater development and adoption of decarbonized resources, such as solar and energy storage.

The DOE announced the awards on Wednesday. National Grid's proposal, called the Future Grid Project, was chosen from among more than 100 proposals submitted by utilities, industry, academia, and state entities from across the U.S.

The total cost for the Future Grid project is about $140 million. The federal funds will supplement a $90 million investment by National Grid.

[melody9999] 01/11/2023 20:07

Was commenting on the JLEN thread but repeating below:

On 1/1/22 JLEN share price was 105p and divi 6.8p. ie 6.5%. If you now assume a high interest rate env ....say 4%....arguably investors will need to see 10%+ divi. Paying 7.6p, that means a share price of 76p or less.

All that completely ignores NAV / company performance in the last 2 years....

Just put a few £ into GSF...doing the same calc at 1/1/22 share price was 116p and divi 7p. ie 6%. Paying 7.5p now, so to achieve 10% divi share price needs to be 75p. You can buy today at 66p.

[atlantic57] 01/11/2023 12:48

The current price appears to reflect the desire of some to exit.
The fundamentals surely do not justify such a huge discount to nav.At least I am hoping that is the answer.

[melody9999] 01/11/2023 11:17

At this price, likely to be a forced redemption

[cwa1] 01/11/2023 10:44

Reduction in holding by Rathbones:-

[noiseboy] 01/11/2023 08:32

Interestingly both Northern Ireland and Republic of Ireland are classed as ex GB in terms of Power as they are on a separate grid attracting higher prices at the moment.

[marksp2011] 31/10/2023 19:58

What government subsidies are those then?

[williamcooper104] 31/10/2023 17:56

As NAV = GAV this is probably the most heavily discounted fund in the renewable /infra sector

[waterloo01] 31/10/2023 16:03

And at 66.5p it's 44.99% discount to NAV and 11.57% divi.