Business
Dividend Declaration
Gore Street Energy Storage Fund PLC reported an unaudited Net Asset Value of 87.9 pence per share as of December 31, 2025, down from 90.1 pence per share at the end of the previous quarter, though broadly flat excluding a special dividend. Quarterly revenue increased 24% to £9.7 million, driven by new operational capacity in the US totaling 475 MWh, despite a year-on-year decline in revenue per MW due to market conditions. The company declared a dividend of 1.75 pence per ordinary share and committed to an annual distribution of 7.0 pence per share. Gore Street also announced progress on augmenting its Stony and Ferrymuir assets, initiated a sale process for its Cremzow asset, and is trialing a new asset management data platform to reduce costs and optimize revenue, while maintaining £53.5 million in cash and equivalents with £38.1 million of undrawn debt capacity. Disclaimer*
About this update from Gore Street Energy Storage Fund Plc
[{"type":"text","content":"\n\n18 March 2026\n \nGore Street Energy Storage Fund plc\n(the 'Company' or 'GSF')\n \nQuarterly NAV, Portfolio Update and Dividend Declaration\n \nThe GSF Board today announces the Company's unaudited Net Asset Value ('NAV') as at 31 December 2025 ('Q3 FY25/26' or 'the Quarter'), as well as an update on operational priorities.\n \nQ3 FY25/26 Highlights\n· Unaudited NAV was 87.9 pence per share (30 September 2025: 90.1 pence per share).\no The Unaudited NAV was broadly flat, excluding the payment of the 1.5 pence per share special dividend.\n· Quarterly revenue increased 24% to £9.7 million (Q3 FY24/25: £7.8 million).\no Revenue growth reflected an increase in operational capacity, with two large US assets and a combined energy capacity of 475 MWh becoming operational between periods.\no Revenue on a MW-weighted basis declined year on year due to market conditions.\n· EPC contracts for the augmentation of the Stony (79.9 MW, GB) and Ferrymuir (49.9 MW, GB) assets from one to two-hour duration were executed.\no Augmentation works are progressing as planned, with completion targeted by the end of 2026.\n· A new asset management data platform is in trials, which will improve efficiency and immediately reduce costs and further optimise revenue (see below).\n· Board refreshment was completed, with final appointments effective from 1 February 2026.\n· The Board completed a review of the existing strategy and announced an updated strategy following engagement with certain Shareholders, as set out in the RNS dated 17 March 2026.\n· In line with the new strategy, a dividend of 1.75 pence per ordinary share has today been declared in respect of the Quarter. The Board has committed to an annual distribution of 7.0 pence per share, paid on a quarterly basis.\n· As previously announced, a further special dividend of 1.5 pence per share, representing the final special dividend linked to the monetisation of the Dogfish and Big Rock Investment Tax Credits is still to be declared.\no The process has been delayed due to involvement of government-related third parties resulting in longer-than-anticipated processing timelines.\no The outstanding administrative processes required were prog...