UK Fund Faces Headwinds as Energy Storage Challenges Emerge

Gore Street Energy fund said it remains confident in delivering strong returns to investors despite “challenging” conditions in Britain’s energy storage market over the last year. Annual earnings before interest, taxation, depreciation and amortisation (EBITDA) at the London-listed fund came in broadly level at £28.4m, up from £27.8m the year prior. But net asset value (NAV) fell from £556.3m to £540.7m as NAV per share plunged to 64.5p, down from 100.8p. Pat Cox, Chair of the company, said: “Despite…