To provide investors with an attractive and sustainable level of income returns, with the potential for capital growth, by investing in commercial scale energy storage and renewable energy generation projects, with an initial focus on a diversified portfolio of battery energy storage systems located in Great Britain.
The Investment Adviser is entitled to a fee of a one twelfth of 0.9% per calendar month of the lesser of the i NAV or ii Average Market Capitalisation of the Company up to the threshold of 250,000,000 and b one twelfth of 0.8% per calendar month of the lesser of the i NAV or ii Average Market Capitalisation of the Company in excess of GBP 250m. The AIFM has appointed the Investment Adviser for an initial period of two years and thereafter the Investment Advisory Agreement is terminable on six months notice by the Company and twelve months notice by the Investment Adviser or on immediate notice in certain customary circumstances.
On the basis of market conditions as at the date of this Prospectus, the Company will target an initial dividend yield of 2% for the calendar ending 31 December 2022, with such dividend target increasing to 8% p.a. payable quarterly in the periods thereafter, in each case by reference to the Issue Price. Subject to market conditions and the level of the Company’s net income, it is expected that a first interim dividend of 1p will be payable in July 2022 with an additional 1p expected to be paid in December 2022. Thereafter it is intended that dividends on the Shares will be payable quarterly, all in the form of interim dividends (the Company does not intend to pay any final dividends).