Gore Street storage fund value tops ₤ 285m.
- Portfolio stood at 516.5 MW as of 30 September, up from 440MW at the end of March.
Gore Street Energy Storage Fund web asset vale (NAV) increased to over ₤ 285m in the first 6 months of the 2021-22 financial year, from just above ₤ 145m at the end of March.
The fund's portfolio stood at 516.5 MW since 30 September, up from 440MW at the end of the last financial year.
NAV per share boosted 2.4% to 103.3 pence in the period from 100.9 pence.
Gore Street acquired an 80MW construction all set energy storage project in Milton Keynes, set up to end up being operational in the initial quarter of 2023 for around ₤ 30m, and also an under-construction 57MW project in Leicester anticipated online in 2023 for around ₤ 22m.
A successful fundraise of ₤ 135m was completed throughout the period.
Gore Street Capital president Alex O'Cinneide stated: "I am delighted to report that Gore Street has actually had another extraordinary duration of successful growth as we continued to regularly supply against our method as well as targets, providing attractive returns to our investors in an important industry, underpinned by substantial environmentally-focused tailwinds.
" We grew significantly throughout the period, with our portfolio of properties amounting to over 600 MW in aggregate post-period, of which 210 MW is already functional, supplying solid cashflows for the firm.".
