Gore Street Energy to raise funds to speed up development of its portfolio
The energy storage fund said shares will be available to retail investors at the same price via the PrimaryBid.com platform.
Company
Gore Street Energy Storage Fund PLC
LON:GSF
Gore Street Energy Storage Fund PLC is the first UK and Ireland pure play energy storage fund, targeting a 7% yield. Building a diversified portfolio of projects, the Fund already has several operational assets in the portfolio and multiple revenue streams in place. The Fund is overseen by a highly experienced Investment Management Team, with a total of over 75 years of private equity and asset management experience. The investment team's track-record is predominantly focused on energy and infrastructure and also has successfully acquired and managed storage assets in the UK.
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Gore Street Energy notes growth milestones in portfolio as it secures new financing
The company said that two Northern Ireland sites, Mullavilly and Drumkee, are now complete and generating revenue, adding that it has also secured a £15mln revolving credit facility to support its continued growth
Gore Street Energy sees NAV rise 2.3% in final quarter of 2020
Since the last audit at the end of March 2020, the company's NAV has risen from 94.6p per share to 99.6p, an increase of 5.3%
Gore Street Energy Storage Fund set for revenue boost as it participates in dynamic containment service
“Gore Street is excited to take part in this service which reinforces the benefits of our revenue stacking model, enabling our assets to participate in multiple contracts to generate significant value,” said Alex O'Cinneide
Gore Street Energy Storage upbeat as battery momentum grows
Recent investment from Japanese oil group JXTG underlines the shift in sentiment towards renewables
Gore Street Energy says dividend on track as portfolio grows
Over the six months to end September 2020, the group's net asset value (NAV) per share rose to 97.3p (2019: 94.6p)
Gore Street Energy's £60mln fundraise significantly oversubscribed
The new shares were priced at 100p and will be admitted to trading December. 16, 2020
Gore Street Energy kicks off expansion programme with £60mln fund raise
Following this initial raise, Gore Street intends to issue up to a further 250mln shares
Gore Street Energy Storage energises 50Mw Drumkee project
100Mw of the group's Irish portfolio is expected to be operational in the first quarter of 2021
Gore Street Energy sets out plans for major expansion
Gore Street has a pipeline of opportunities with a capacity of 1.3Gw
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Proactive news headlines: AdEPT Technology, AFC Energy, Gore Street Energy Storage...
A glance at some of the day's highlights from the Proactive Investors newswire
Gore Street Energy enlists Fluence to develop its Porterstown project
Fluence has committed to construct the project at a fixed price by a specified completion date and to operate the projects for up to 15 years.
Gore Street Energy Storage Fund boosts operating assets with £28.2mln deal
“These cash-generating projects further reinforce the company's dividend cover and materially enhance company earnings".
Gore Street Energy Storage Fund asset value rises 1.7%
The dividend for the quarter is 2p, which is in line with the fund’s annual target of 7p.
Gore Street Energy Storage believes it's time for batteries to shine in renewable transition
Renewable assets are all about cashflow and less the underlying NAV
Gore Street Energy welcomes green light for larger battery projects in England and Wales
The change will allow larger projects to receive planning permission without government approval
Gore Street Energy returns over 10% as battery usage ramps up
During the year, the trust raised £20.5mln with an additional £23.7mln raised since the end of the year
Gore Street Energy Storage Fund confirms strong support for recent fundraise, garnering total gross proceeds of £23.7mln
Alex O'Cinneide, CEO of Gore Street Capital, the company's investment manager said: "The level of investor demand for both the Placing and the PrimaryBid Offer has exceeded our expectations"
Gore Street Energy Storage agrees exclusivity on further 131Mw of capacity
The assets include 81Mw of capacity that are already operating and generating cash
Gore Street Energy acquires first project in Scotland
The acquisition of this project brings Gore Street's total portfolio size to 239MW, the largest of any UK-based manager, the company noted.