Image: Gresham House Energy Storage Fund
Gresham House – which manages funds including Gresham House Energy Storage Fund – has recorded a net core income of £40.8 million and an adjusted operating profit of £12.1 million.
These were up 29% and 17% from 2019 respectively despite chairman Anthony Townsend describing 2020 in the company’s full year results as being “one of the most challenging years we have seen” due to the COVID-19 pandemic affecting global populations and economies “on an unprecedented scale”.
Even with the backdrop of the pandemic, Gresham House saw a “busy and productive year”, with its assets under management increasing by 42% to £4.0 billion.
When it comes to Gresham House Energy Storage Fund specifically, the fund was praised for the £150 million it raised in the year. It was able to supply 100MW of utility scale battery storage projects from its pipeline, with the proceeds of the fundraising to be used to finance a c.485MW pipeline of energy storage projects.