Edison Investment Research Limited
London, UK, 29 September 2025
Edison issues report on Gresham House Energy Storage Fund (GRID) Edison issues report on Gresham House Energy Storage Fund (LSE: GRID) Gresham House Energy Storage Fund (GRID) delivered strong H125 operational performance, with underlying portfolio revenues up 76.9% y-o-y to £31.7m and EBITDA rising 97.6% to £20.5m, driven by improving revenue rates and increased operational capacity, which has now reached 1,072MW. Despite this, NAV per share declined 1.5% to 107.71p, primarily due to further reductions in third-party revenue forecasts (negative 11.54p impact), which was largely offset by operational improvements and cash generation. The board has prioritised reinvestment over near-term cash distributions to shareholders, announcing minimal dividends through 2026. The focus is on funding the three-year plan, which aims to double capacity to 3.5GWh by 2027-28. This strategy reflects management's confidence in the substantial value-creation potential during the company's current growth phase. At 30 June 2025, GRID's net debt stood at £111.8m. Management further highlighted its confidence in the industry outlook, including the National Energy System Operator's commitment to use more batteries in its system. Click here to read the full report. All reports published by Edison are available to download free of charge from its website www.edisongroup.com Edison is authorised and regulated by the Financial Conduct Authority. Edison is not an adviser or broker-dealer and does not provide investment advice. Edison's reports are not solicitations to buy or sell any securities. For more information, please contact Edison: enquiries@edisongroup.com +44 (0)20 3077 5700 Connect with Edison on:
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