Gore Street Energy Storage Fund urges investors to reject Saba Capital's winding-up resolution, warning that an accelerated asset sale could lead to unfavorable valuations.
Gore Street Energy Storage Fund's board is implementing a "disciplined and timely value realization" strategy, which includes asset disposals, project value enhancement, and an annual dividend of 7 pence per share. The target is to dispose of £25 million in assets this year and £75 million next year. The board acknowledges that battery energy storage revenues have fallen from £22-23 per MWh a few years ago to £7.50-8 per MWh, but anticipates that improving market conditions will help narrow the discount between the share price and net asset value (NAV).
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