Specialist alternatives asset manager Gresham House has announced plans to launch an investment trust in the renewable energy sector, with an initial public offering (IPO) target of £200m.
Gresham House Energy Storage fund will provide the National Grid with utility-scale energy storage systems (ESS), and support the continued growth of renewable energy sources such as wind and solar. The IPO and admission to trading on the Main Market of the London Stock Exchange, within the Specialist Fund Segment, is planned to complete in early November 2018. It is looking to raise gross proceeds of up to £200m from the IPO and subsequent placing programme to invest in a network of industrial lithium-ion batteries in which renewable energy can be stored. Analysts warn investment ...
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