The company seeks to provide investors with a sustainable and attractive dividend over the long term by investing in a diversified portfolio of utility scale energy storage projects primarily located in the UK, although the company will also consider projects in North America and Western Europe. In addition, the company seeks to provide investors with an element of capital growth through the re-investment of net cash generated in excess of the target dividend in accordance with the investment policyof the company.
A management fee is calculated at the rate of one-fourth of 1% of NAV, performance fee of 10% above a hurdle of 7% of NAV, capped at 50% of the advisory fee in the respect of that period.
Subject to market conditions and performance, financial position and financial outlook, it is the Directors intends to pay an attractive level of dividend income to shareholders on a quarterly basis. The company intends to grow the dividend progressively, through investment in upward-only, inflation-protected, long-term lease agreements. The annual target thereafter is 7% share as per the Supplemental Prospectus.