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PW66, I'm not saying that Japan isn't a potential market for GSF but as it currently stands GSF is a separate entity from Gore Street Japan (GSJ) and has no investment in GSJ or any involvement in any of its proposed projects.
Down the road that might change, e.g. GSF could enter into a JV with GSJ perhaps or acquire its own assets, but it would require additional capital and, at this juncture, GSF is not about to do another equity issue (given the discount to NAV) or raise additional debt.
Https://www.argusmedia.com/en/news-and-insights/latest-market-news/2564397-battery-storage-stands-out-in-japan-clean-power-auction
https://www.ekuenergy.com/news/hirohara-240424
I’m joining the dots. Rightly or wrongly. Battery storage on the move in Japan and Alex is a director of a new gore street Japan company incorporated Jan this year.
My take = Japan has either happened or will happen for GSF
Diversification (hopefully) saved Gsf from the recent uk issues. So this is good news.
Good luck all.
It’s a grid supply and BTY storage fund
"Gore Street Capital is the fund manager e.g. like Fidelity. The only thing GSF and Gore Street Japan have in common is that they have the same fund manager."
And the directors. Alex etc.
To try to answer my own question, the NAV already reflects projects under construction, so a doubling of operational capacity in say the next year won't double the NAV? But how does that relate to revenue and ability to pay dividends? A doubling of operational capacity could well double revenue. If the dividend is covered now, then if revenue doubles, GSF could afford to pay twice the current dividend?
I'm expecting GSF's new projects to take a bit longer than they predict, and commercial operation seems to follow many months after energisation. However, at some point in 2025 GSF's operational capacity will be roughly double what it is now, so if revenue forecasts stay roughly as they are now, NAV per share will be roughly double what it is now, so if GSF continue to pay 7% of NAV, the quarterly dividend will be roughly double what it is now? This sounds too good to be true. What's wrong with my reasoning?
Gore Street Capital is the fund manager e.g. like Fidelity. The only thing GSF and Gore Street Japan have in common is that they have the same fund manager.
Check out companies house. Some new incorporations end of Jan, inc Gore Street Japan
Gore Street Capital (GSF's fund manager) was appointed co-manager of a Japanese storgae fund in December (https://www.gsenergystoragefund.com/content/news/archive/2019/041223) but that does not mean that GSF is itself expanding into Japan (at this juncture).
What leads you to that conclusion Pearlwhite66?
Looks like Japan may be the next stop on the diversification map.
As long as there are no more false starts!
At around 12% yield, this is an incredible bargain for the future. As soon as interest rates take z stro down this will climb quickly. The rise here is already starting with that anticipation IMO. However, I believe lots of trusts will move sharply up when that happens. Should be in the next 2 months. Fingers crossed!
GLA
Will be disappointed if this hasnt reached 90p by this time next year! AIMHO.
Seriously hope that’s the end of the 50’s but recent history limits that somewhat!
I think they write these with new investors in mind and not shareholders?
Well, at least we now know that GSF can make money from solar eclipses. When's the next one?
April fact sheet has less information than is deposited on toilet paper from one stochastic wipe.
April factsheet is on the GSF website.
What fact sheet? Next update expected early to mid June, as per last year?
April Factsheet : Still no update I seen (but viewing on phone) no mention of a delay either
Thanks
Hopefully there will be an update in the April fact sheet but i feel it has gone very quiet.
The latest I could find was the Feb Factsheet [no mention in March, that I seen] "Commissioning works are underway on the 50 MW Ferrymuir asset in Great Britain following successful energisation of the project on 13 February."
I’ve been trying to get an update from Gsf as this was due to be commissioned months ago.
I am aware that it has been energised.
Anyone got and thoughts on what’s happening with it in terms of it being commissioned
Courtesy of Modo Energy.
https://modoenergy.com/research/gb-benchmark-index-battery-energy-storage-april-2024-revenue
This is looking much better, revenues seem to have recovered from Dec - Feb lows.