StockMarketWire.com - Battery storage fund Gresham House Energy Storage Fund reported flat net asset value total return in the first half of the year, but said it remained on track to double its capacity by the end of 2020.

For the period ending 30 June 2020, the company reported net asset value of £230.0m, or 98.16 pence per share, flat on a total return basis.

Net asset value per share declined 2.6p owing to 'downward revisions to forward curves in the wake of the COVID-19 pandemic and partially uncovered dividend due to cash weighting,' the company said.

A dividend of 1.75p per share was declared for the period from 1 April to 30 June 2020.

The company said its operational portfolio had now grown to 215MW, up 24% from December last year, helped in part by the Bloxwich acquisition from Arenko in July.

'Our first wave of operational projects is now delivering revenues and system flexibility, and we remain on track to double our capacity by the end of 2020,' it added.


At 9:19am: [LON:GRID] share price was 0p at 114p



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