Gresham House Energy Storage Sees 2021 Revenue Ahead of Views

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by Joe Hope

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Gresham House Energy Storage Fund Plc said Monday it sees 2021 revenue comfortably ahead of expectations, and expects earnings before interest, taxes, depreciation and amortization to more than double.

The UK utility-scale battery-storage fund said it expects revenue from its asset portfolio to exceed its model, but did not provide a figure.

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The company said EBITDA is estimated to exceed £40 million ($54.4 million) in 2020 compared to GBP15.6 million.

Gresham said it expects to achieve full dividend cover in 2022 for a dividend target of 7.0 pence per share.

“We continue to work towards rolling out our extensive pipeline, as well as continuing to grow it. We are excited by the impact that achieving these milestones will have on earnings growth prospects and [net asset value] Progress in 2022,” said Ben Guest, managing director of Gresham House New Energy.

Write to Joe Hope at [email protected]

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