Gore Street Energy Storage Fund net asset vale (NAV) increased to over £285m in the first six months of the 2021-22 financial year, from just above £145m at the end of March.
The fund’s portfolio stood at 516.5MW as of 30 September, up from 440MW at the end of the last financial year.
NAV per share increased 2.4% to 103.3 pence in the period from 100.9 pence.
Gore Street acquired an 80MW construction ready energy storage project in Milton Keynes, scheduled to become operational in the first quarter of 2023 for about £30m, and an under-construction 57MW project in Leicester expected online in 2023 for around £22m.
A successful fundraise of £135m was completed during the period.
Gore Street Capital chief executive Alex O’Cinneide said: “I am delighted to report that Gore Street has had another exceptional period of successful growth as we continued to consistently deliver against our strategy and targets, providing attractive returns to our investors in an important sector, underpinned by significant environmentally-focused tailwinds.
“We grew substantially during the period, with our portfolio of assets totalling over 600 MW in aggregate post-period, of which 210 MW is already operational, delivering strong cashflows for the company.”