Gore Street Energy Storage Fund Sells Texan Asset Tax Credits for £18-19 Million

Gore Street Energy Storage ( (GB:GSF) ) just unveiled an update.

Gore Street Energy Storage Fund has announced the sale of Investment Tax Credits from its Texan asset, Dogfish, for approximately £18-19 million. This transaction, expected to close by June 2025, aligns with previous pricing guidance and reflects the company’s strategic progress in energy storage markets. The cash inflow strengthens Gore Street’s balance sheet, providing opportunities to enhance shareholder value through increased asset capacity and new constructions, amidst a favorable policy environment and hedged income streams.

Spark’s Take on GB:GSF Stock

According to Spark, TipRanks’ AI Analyst, GB:GSF is a Neutral.

Gore Street Energy Storage’s stock score is bolstered by its strong balance sheet and positive corporate developments, such as increased capacity and international diversification. However, challenges in revenue consistency and profitability, along with a negative P/E ratio, temper the outlook. The high dividend yield offers some offsetting appeal for investors seeking income.

To see Spark’s full report on GB:GSF stock, click here.

More about Gore Street Energy Storage

Gore Street Energy Storage Fund plc is London’s first listed and internationally diversified energy storage fund dedicated to the low-carbon transition. It aims to provide shareholders with sustainable returns through a diversified portfolio of utility-scale energy storage projects, focusing on growth via increased operational capacity and a strong project pipeline, alongside delivering consistent dividend yields.

YTD Price Performance: 13.99%

Average Trading Volume: 1,538,937

Technical Sentiment Signal: Buy

Current Market Cap: £271.7M

See more data about GSF stock on TipRanks’ Stock Analysis page.