Gresham House Energy Sto... Share Discussion Threads

[hiddendepths] 03/10/2019 07:16

Oh ho, placing at 103p! Explains why the price has been held down. I imagine it's done and dusted already apart from the paperwork.

I'm glad they're expanding - the market's growing quickly and will continue to do so, probably at a faster rate still. Opportunities abound!

[hiddendepths] 01/10/2019 16:02

Looks like the seller might have finished with that final dump!

[hiddendepths] 17/9/2019 13:37

Thanks jonwig! Read that immediately after you drew my attention to the stock in your previous post! I don't think it added much.

[jonwig] 17/9/2019 12:57

Quoted Data has a lengthy research note on JLEN, dated 09/09. It explains battery storage in some detail, though this is currently a negligible part of the portfolio:

[hiddendepths] 17/9/2019 11:21

Yes jonwig, I read that.

I do have a bit of anxiety about the life of lithium-ion batteries but the payback period is not long and should fall further as the price differentials will inevitably widen as wind and solar continue to gain market share. GRID is very aware of the technical issues, which I find comforting, and will quickly move into any improvements which are forthcoming. In the meantime, it looks as though everyone is in the same boat with the possible battery life issue. But demand for what these batteries do can only strengthen for the next five years at least. If the batteries don't last as long as is hoped, prices will have to improve to stimulate enough investment to fill the energy holes and skim off the excesses.

It's certainly important to have critical mass. GRID has it but I agree that GSF is too small. I didn't know about JLEN but there will inevitably be competition in such an explosive high-margin market.

I've only looked seriously at this stock fairly recently. I am not keen on high premium trusts either! But now that premium has fallen sharply with a lower stock price and a higher NAV.

[hpcg] 17/9/2019 10:27

I would buy more if Sterling recovered, otherwise the premium makes no sense. Lithium should be absolutely fine for this use case.

[jonwig] 17/9/2019 09:35

There was some discussion of the Gore Street (GSF) thread about lithium-ion not being as long-lived or reliable as the industry makes out. This may or may not be true, but was one factor putting me off.

Also, GSF is too small, and GRID had a huge premium at the time. I think JLEN is moving into storage as part of its diversification.

[hiddendepths] 17/9/2019 09:25

Strangely overlooked!

Fills a necessary space imo. Plenty of growth inevitable in the sector and GRID seems well-positioned. Like the yield too, which they should be able to achieve barring accidents. Obviously there are one or two technical risk factors but overall, given such a growth market, this seems pretty low risk.

Bought a second tranche this morning. The market has stock hence the 104.06 price, reported inevitably as a sell!

[tomps2] 11/6/2019 12:57

GRID presentation at Mello London May 2019



By Bozkurt Aydinoglu

[jonwig] 28/5/2019 06:35

Interview with fund's manager:

[jonwig] 21/5/2019 10:10

GSF, sorry!

[hpcg] 21/5/2019 09:40

GST? Golden Saint, that GST? That's a datacentre company not grid storage. I added some at 103, which ends up at 104 after costs and stamp duty. One for long term, secure, inflation resistant income. Definitely not a price to chase, but like Bluefield Solar I can see it trading above NAV on an ongoing basis.

[jonwig] 12/4/2019 10:29

PUG - maybe the name, and the size. A smaller outfit (GST) is at a discount. Both are lithium-ion storage, which might not be ideal as a monoculture

[pugugly] 12/4/2019 10:09

At a significant premium to nav - Have they got nav right? or are punters seduced by the words "Energy storage" and getting in too early?

[goodgrief] 04/3/2019 14:43

Hardman & Co Investor Forum, recorded on the evening of 26th February 2019.

[getscenic] 16/11/2018 09:12

INVESTMENT OBJECTIVE
The Fund 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.
Key Fund highlights include:
Target minimum dividend distribution of 7.0p (4.5p in the first year)*
Target NAV total return of 8.0% per annum (net of all fund expenses) before leverage*
Target NAV levered total return of 15.0% per annum (net of all fund expenses) assuming 50% leverage combined with expected asset management and revenue improvements*
Each Energy Storage System project can generate multiple revenue streams
Returns are not correlated to the absolute level of wholesale power prices and are not dependent on renewable subsidies
Target gross IPO proceeds of up to £200 million expected to be fully deployed within 12 months in a seed portfolio of 70MW and an exclusive pipeline of 182MW
Management team are making a substantial investment in the Fund, ensuring strong alignment of interest
* This is a target only and not a profit forecast. There can be no assurance that this target will be met or that the Fund will make any distributions at all. This target return should not be taken as an indication of the Fund’s expected or actual current or future results. The Fund’s actual return will depend upon a number of factors, including but not limited to the size of the Fund’s portfolio of assets, the Fund’s net income and the Fund’s ongoing charges figure. Potential investors should decide for themselves whether or not the return is reasonable and achievable in deciding whether to invest in the Fund.

[ramillar] 29/3/2004 11:33

Just a printed list would do, sent to subscribers. No great expectation, surely! I for one use but a few of the available "tools".

[paulismyname] 29/3/2004 11:13

Have been looking at this tool which you use via the toplist tab.

The interesting thing about this website is that there is a host of useful tools (if only you know where to find them!!)

Two suggestions

1) Would it be possible to introduce a sort mechanism on this grid so that you could show the highest gainers or loosers in some type of display order and add percentage rise or fall

2) More generally has ADVFN considered making a cd disk with a "walk though" of every trading tool on this site to be used as a type of tutorial. You could possibly sell it for a few bob a disk (and provide it free for premium users)

Could also carry a bit of advertizing which could bring in extra revenue

[mad4it] 27/1/2003 20:39

C'mon abix!

Dust them books off and start up a new team. I'd support ya!

What about....'The Scouse 69'ers'...'The Panty Raiders' or 'The Shecargo Beers'?

[esmerelda] 27/1/2003 19:25

Managed to last till the third quarter and then gave up. Reminded me of the Buffalo Superbowl blowouts. I have to agree that a strong defence will beat a strong offence. No matter how hard Jim Kelly and Thurman Thomas tried in the Superbowls it just wouldn't go the Bills way.

Used to watch the Birmingham Bulls every home game before they moved to Solihull a few years back. Are they still active?

[mad4it] 27/1/2003 18:08

I watched some of it....but as usual the commentators drove me insane with their mindless, continual, unending prattle and I couldn't stand it!

So I went to bed.

Same as it ever was!

" Anyone know why Gruden left the Raiders last year? (Apart from a stack of cash) "

Err, the stack of cash was indeed the reason, I'm led to believe.

[abix47] 27/1/2003 17:41

Suprising how many people used to enjoy it but have now lost interest. I still think it's a fascinating sport but I only watched two games this year. Both Raiders losses. :-(

[jettyboy] 27/1/2003 11:38

abix
used to watch AF all the time back in the early 80's
we used to have a superbowl party each year.
that lasted about 8 years before i started to lose interest in the game.
always one for the underdog i supported Denver through all their losing 'Bowls.
Elway,one of the best ever.
couldn't name many of them now apart from Rice - 'Flash 80' if i remember
rightly from his 49'ers days.
surprised to hear you were a player and a coach.
well done mate.
never really followed the english game but that was the 1st superbowl
i've watched for a long long time.
as you say, defence always seem to dominate in the final.