Business
Replacement: NAV, Portfolio Update and Dividend
Gore Street Energy Storage Fund PLC announced its unaudited Net Asset Value (NAV) as of December 31, 2025, which stood at 87.9 pence per share, a decrease from 90.1 pence per share on September 30, 2025, with underlying NAV performance being broadly flat after accounting for a 1.5 pence per share special dividend. The company reported a 24% increase in quarterly revenue to £9.7 million, driven by new operational capacity, though revenue on a MW-weighted basis declined year-on-year due to market conditions. A dividend of 1.75 pence per ordinary share has been declared for the quarter, with the company committing to an annual distribution of 7.0 pence per share. The company also noted progress on asset augmentation, the sale of selected assets including the Cremzow facility, and the development of a new asset management data platform aimed at reducing costs and optimizing revenue. The group maintained a strong capital position with £53.5 million in cash and equivalents and £38.1 million of undrawn debt capacity. Disclaimer*
About this update from Gore Street Energy Storage Fund Plc
[{"type":"text","content":"\n\nThe issuer advises of a minor amendment to the Quarterly NAV announcement and that the following replaces the Gore Street Energy Storage Fund plc announcement released at 07:00 on 18 March 2026 under RNS No. 0528X.\n \nThe record date year of the declared dividend has been corrected to 2026. Accordingly, the ex-dividend date will be 26 March 2026, followed by a record date of 27 March 2026. The dividend will be paid on or around 21 April 2026.\n \nAll other details remain unchanged.\n \nThe full amended text is shown below.\n \n \n \nGore Street Energy Storage Fund plc\n(the 'Company' or 'GSF')\n \nQuarterly NAV, Portfolio Update and Dividend Declaration\n \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 decl...