Given the pronounced growth and the intermittency of renewable generation, energy storage systems (ESSs) and battery cell developments are attracting real attention – the recent acquisition by Shell of Sonnen, Germany’s leading battery power business, being a case in point. GHESF, which now owns 70 MW of ESS projects, was floated last October 2018. Simultaneously, it raised £100m of proceeds, around 60% of which have now been invested in the recently acquired seed portfolio. GHESF aspires to expand its portfolio, although the pace of this expansion will be determined by future fundraising opportunities. It plans a 4.5p dividend for this year and a minimum 7p annual dividend payment subsequently.