Gresham House Energy - Debt Financing
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This announcement is not an advertisement for the purposes of the Prospectus Regulation Rules of the Financial Conduct Authority ("FCA") and not a prospectus and not an offer of securities for sale in any jurisdiction. Neither this announcement, nor anything contained herein shall form the basis of, or be relied upon in connection with, any offer or commitment whatsoever in any jurisdiction and does not constitute a recommendation regarding any securities.
Gresham House Energy Storage Fund PLC
("GRID", the "Company" or the "Fund")
Gresham House Energy Storage Fund plc (LSE: GRID), the
The majority of the proceeds will be used to acquire an operating asset which is in the final stages of due diligence with an agreement expected to be concluded during the fourth quarter. The addition of this project to the Company's existing portfolio of operational assets should be accretive to the Fund's cash flow and NAV per share.
The GRID Power Bonds provide the Company with flexible fixed rate financing terms with low arrangement, legal and other ancillary fees as compared to a typical revolving credit facility or project finance. The GRID Power Bonds will pay interest semi-annually, in arrears, in equal instalments at a fixed rate of 5.0%. The Company intends to refinance the short-term GRID Power Bonds, representing an aggregate amount of
The Issuer may issue further series of GRID Power Bonds, up to an aggregate subscription amount of
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For enquiries, please contact:
Gresham House New Energy
+44 (0)20 3837 6270
Jefferies International Limited
Gaudi Le Roux
+44 (0)20 7029 8000
+44 (0)20 3995 6673
About the Company and the Manager:
Gresham House Energy Storage Fund plc owns a portfolio of utility-scale operational energy storage systems (known as ESS) located in
The Gresham House New Energy team has a proven track record in developing and operating energy storage and other renewable assets having developed 224MW of Energy Storage Systems and approximately 290MW of predominantly ground-mounted solar projects. Gresham House Asset Management Limited currently manages 207MW of solar and wind energy projects.
Gresham House Asset Management Limited is the FCA authorised operating business of Gresham House plc, a London Stock Exchange quoted specialist alternative asset manager.
Definition of ESS projects and utility-scale battery storage systems
ESS projects are utility-scale battery storage systems. These projects are the enabling infrastructure that will support the continued growth of renewable energy sources such as wind and solar, essential to the
This announcement contains "forward-looking statements." Actual events or results may differ materially from those reflected or contemplated in such forward-looking statements.
Quick facts: Gresham House Energy Storage Fund plc
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