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The latest update is out from Gore Street Energy Storage ( (GB:GSF) ).
Gore Street Energy Storage Fund plc announced the energisation of its largest asset to date, the 200 MW/400 MWh ‘Big Rock’ project in California, significantly increasing its total energised capacity to 621.4 MW/792.1 MWh across five grids. For the calendar year ending December 2024, the company estimates an operational portfolio revenue of approximately £37.7 million, with an EBITDA margin of 65%. The company forecasts a 69% EBITDA margin for FY 2025/26 due to improved economies of scale and expanded geographic diversification. The Big Rock project has secured a 12-year fixed-price Resource Adequacy contract valued at over $165 million and is eligible for a 30% investment tax credit under the Inflation Reduction Act. Additionally, the company is progressing well with its Dogfish and Enderby projects, anticipating further increases in energised capacity and revenue, with a projected capacity of 753.4 MW/924.1 MWh.
More about Gore Street Energy Storage
Gore Street Energy Storage Fund plc is London’s first listed and internationally diversified energy storage fund. The company is dedicated to the low-carbon transition, offering shareholders sustainable returns from a diversified portfolio of utility-scale energy storage projects. Through increasing operational capacity and maintaining a robust pipeline, Gore Street aims to provide consistent dividend yields as income distributions to its shareholders.
YTD Price Performance: -0.73%
Average Trading Volume: 1,525,968
Technical Sentiment Consensus Rating: Buy
Current Market Cap: £241.2M
Learn more about GSF stock on TipRanks’ Stock Analysis page.
