Commission of further hybrid project in Australia
Source: RNS
VH GLOBAL SUSTAINABLE ENERGY OPPORTUNITIES PLC
20 November 2024
Commissioning of a further hybrid project in Australia
VH Global Sustainable Energy Opportunities plc ("the Company", or "GSEO") is pleased to announce the completion of the construction and commissioning of a third solar and storage hybrid system in New South Wales ("NSW"), on time and on budget. This follows the completion of two hybrid systems in NSW announced three weeks ago, and brings the operational portion of the Company's portfolio to 69%, up from 61% as of 30 June 2024.
As with the previously announced systems, this third site also comprises a solar PV site with a DC-coupled two-hour 4.95MW battery energy storage system ("BESS"). The coupling of solar PV with BESS technologies provides the Australian energy system with much-needed grid stability and an effective storage solution.
GSEO's Australian energy transition programme (the "Australian Programme") now consists of five operational assets with a further two currently under construction. Once complete in 2025, the total capacity of the Australian Programme will be 37MW/60MWh, across seven assets in New South Wales, Queensland and South Australia.
GSEO continues to support the global energy transition, with its investors benefiting from both NAV growth and a progressive income stream since launch in 2021. The Company targets a total unlevered NAV return of 10%, net of fees, and a progressive annual dividend per share, covered 1.1x as of 30 June 2024, paid quarterly (currently targeting 5.68p for the year ending 31 December 2024).
www.vh-gseo.com
The Company's LEI is 213800RFHAOF372UU580.
For further information:
Edelman Smithfield (PR Adviser)
Ged Brumby + 44 (0)7540 412 301
Hamza Ali + 44 (0)7976 308914
Victory Hill Capital Partners LLP (Investment Manager)
Navin Chauhan info@victory-hill.com
Deutsche Numis (Corporate Broker)
David Benda +44 (0)20 7260 1000
Matt Goss
Ocorian Administration (UK) Limited (Company Secretary)
About Victory Hill Capital Partners LLP
Victory Hill Capital Partners LLP ("Victory Hill") is authorised and regulated by the Financial Conduct Authority (FRN 961570).
Victory Hill is based in London and was founded in May 2020 by an experienced team of energy financiers that spun-out of a large established global project finance banking group. The team has participated in more than $200bn in transaction values across 91 conventional and renewable energy-related transactions in over 30 jurisdictions worldwide. Victory Hill is the investment manager of the Company.
The Victory Hill team deploys its experience across different financial disciplines in order to assess investments holistically from multiple points of view. The firm pursues operational stability and well-designed corporate governance to generate sustainable positive returns for investors. It focuses on supporting and accelerating the energy transition and the attainment of the UN sustainable development goals.
Victory Hill is a signatory of the United Nations Principles for Responsible Investing (UN PRI), the United Nations Global Compact (UN GC), Net Zero Asset Managers Initiative (NZAMI), a member of the Global Impact Investing Network (GIIN) and is a formal supporter of the Financial Stability Board's Task-Force on Climate-related Disclosures (TCFD).
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