Gresham House Energy Storage (GRID) has suspended dividends and further buybacks for the remainder of 2024, as a difficult revenue environment for the UK battery storage sector forces the trust to prioritise deleveraging the portfolio.
Ahead of publication of annual results to 31 December 2023 on 29 April, the trust said in a trading statement on Wednesday (18 April) that it would focus its capital allocation on cash preservation and debt reduction for the rest of the year. According to the board, the dividend and buyback suspension will enable the trust to complete its ongoing construction programme, which it said will drive its near-term cash flow potential and inform its future dividend policy. Energy storage trust balance sheet resilience under scrutiny as revenue woes persist across sector "The BESS sector,...
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