We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Gresham House Energy Storage Fund Plc | LSE:GRID | London | Ordinary Share | GB00BFX3K770 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.80 | 1.56% | 52.00 | 51.10 | 52.10 | 52.10 | 50.20 | 50.20 | 3,014,856 | 16:35:02 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Trust,ex Ed,religious,charty | 225.44M | 217.14M | 5.6732 | 0.09 | 19.71M |
TIDMGRID
RNS Number : 1426F
Gresham House Energy Storage Fund
03 November 2022
3 November 2022
GRESHAM HOUSE ENERGY STORAGE FUND PLC
("GRID" or the "Company")
GBP155m Accordion Debt Facility
Gresham House Energy Storage Fund plc (LSE: GRID), the UK's largest fund investing in utility scale battery energy storage systems, is pleased to announce that it has secured GBP155m of incremental term debt through the Accordion arrangement contemplated under the existing senior debt facilities secured in September 2021. The interest rate remains unchanged at 300bp over SONIA while the term of the debt facility has been extended by two years. This incremental debt, together with the original GBP180m secured last year will be used to fund the Company's near term pipeline, as previously disclosed. GRID was advised by Jefferies International Limited and Eversheds Sutherland in relation to the raise.
John Leggate CBE, Chair of Gresham House Energy Storage Fund plc said: "This transaction demonstrates our lenders' continued support for the Company and its commitment to scale up the portfolio. GRID maintains its measured approach to leverage and this extension further optimises the Company's capital structure on attractive terms."
Ben Guest, Fund Manager and Managing Director of Gresham House New Energy, commented: "We are delighted to have secured this incremental capital which will allow us to further deploy into attractive return opportunities."
For further information, please contact:
Gresham House New Energy Ben Guest +44 (0) 20 3837 6270 Jefferies International Limited Stuart Klein +44 (0) 20 7029 8000 Gaudi Le Roux +44 (0) 20 7029 8000 KL Communications gh@kl-communications.com Charles Gorman +44 (0) 20 3995 6699 Camilla Esmund Alex Hogan JTC (UK) Limited as Company GHEnergyStorageCoSec@jtcgroup.com Secretary +44 207 409 0181 Christopher Gibbons
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, Northern Ireland, and the Republic of Ireland. 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 (i) an unlevered Net Asset Value total return of 8 per cent. per annum; and (ii) a levered Net Asset Value total return of 15 per cent. per annum Gresham House Asset Management Limited is the FCA authorised operating business of Gresham House plc, a London Stock Exchange quoted 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. BESS also provide Frequency Response services to National Grid whereby batteries import and export power with the aim to keep real-time supply and demand in near-perfect balance while also protecting against unexpected outages of major power plants.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
END
MSCEAEFAEANAFAA
(END) Dow Jones Newswires
November 03, 2022 03:00 ET (07:00 GMT)
1 Year Gresham House Energy Sto... Chart |
1 Month Gresham House Energy Sto... Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions