Edison Releases Report on Gresham House Energy Storage Fund (GRID)

London, UK, 9 September 2024 – Edison Investment Research Limited has released a new report on Gresham House Energy Storage Fund (LSE: GRID). This fund is the largest in the UK that focuses on utility-scale battery energy storage systems (BESS).

The BESS sector witnessed a tough year due to unexpected revenue decreases and slower-than-anticipated adoption by the UK’s Electricity System Operator. This has negatively affected GRID’s net asset value (NAV) and share price, which is trading at a 50% discount to its latest NAV.

However, a trading update released today predicts a ‘strong earnings recovery in 2025’ owing to rising contractual revenues and the completion of GRID’s 2024 construction projects. In November, GRID will announce a three-year plan to boost revenues and reduce earnings volatility. The plan includes enhancing existing project capacity, exploring new opportunities, efficient capital management, and alternative revenue sources.

The fund’s manager, Ben Guest, is optimistic about the medium-term prospects and believes in GRID’s ability to deliver shareholder value.