Gresham House Energy Storage Fund's Q4 Net Asset Value Declines by 2%

LootboxPhobia · 2026-03-04T08:23:56+00:00

Gresham House Energy Storage Fund PLC reports that as of December 31, 2025, net asset value decreased by 2.0%, mainly due to downward adjustments in revenue assumptions. Although positive business developments have led to some growth, the overall discount rate has slightly decreased. New projects are about to commence construction, and more agreements are expected to be signed.

LootboxPhobia

2026-03-04 08:23:56

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Investing.com – Gresham House Energy Storage Fund PLC (LSE:GRID) reports that as of December 31, 2025, its net asset value per share is 113.3 pence, down 2.0% from the fourth quarter.

The decline in net asset value was mainly due to a downward revision of income assumptions, which reduced the NAV by 5.3% in September.

This decrease was partly offset by positive business developments, which contributed about 2% growth, and cash generation contributed about 1%.

The fund’s core portfolio generated £15.4 million in revenue and £9.5 million in EBITDA this quarter.

The fund stated that the final element of its three-year plan—alternative income—has been tested since December 2025, with more information to be provided upon final results.

As of December 31, 2025, the fund’s weighted average discount rate was 10.33%, lower than 10.46% in the third quarter, while the base discount rate remained unchanged.

Three new projects—Cockenzie, Monet’s Garden, and Elland 2—signed acquisition agreements in December 2025, at cost. Construction is expected to begin in the first half of 2026, pending grid connection quotes.

The fund expects to sign agreements for the remaining two projects, which may start construction in early 2027.

Cockenzie is a 240 MW project with a connection date set for June 2027 and is the only project with a confirmed connection quote. The other four assets are protected and are awaiting connection quotes between now and May 2026.

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