Gresham House Energy Storage sees NAV jump over 53% in H1

Share price total return of 23.3%

The Gresham House Energy Storage fund (GRID) has seen its net asset value jump by 53.5% in the first half of the year to £785.4m, delivering a NAV total return of 27.2%.

According to the fund's interim results to the end of June 2022, the trust's share price returned 23.3% over the period, while the FTSE All Share index lost 4.6%. Since IPO in November 2018, returns have been 86.9% and 15.8%, respectively. A new prospectus was published in May 2022 with an initial equity raise of £150m, which was oversubscribed. Chair John Leggate said that he expects these funds, alongside debt facilities, to deliver most of the existing pipeline, taking GRID to over 1GW of capacity, currently expected by the end of Q1 2023.  Gresham House reports Q1 2022 fundraises ...