LONDON: VH Global Sustainable Energy Opportunities plc (GSEO) has successfully completed the construction and commissioning of its third solar and storage hybrid system in New South Wales (NSW) on time and within budget.
This achievement follows the recent completion of two hybrid systems in the same region, increasing the operational portion of the Company’s portfolio from 61% as of June 30, 2024, to 69%.
This latest system, like the previous ones, features a solar PV site paired with a DC-coupled two-hour 4.95MW battery energy storage system (BESS). The integration of solar PV with BESS technology enhances the stability of the Australian energy grid and provides a reliable storage solution.
GSEO’s Australian energy transition programme now boasts five operational assets, with two additional systems under construction. Upon completion in 2025, the programme will have a total capacity of 37MW/60MWh, spread across seven assets in New South Wales, Queensland, and South Australia.
Since its launch in 2021, GSEO has been a significant player in the global energy transition, offering its investors both NAV growth and a steady income stream. The Company aims for a total unlevered NAV return of 10%, net of fees, and provides a progressive annual dividend per share, currently targeting 5.68p for the year ending December 31, 2024. The dividend is covered 1.1x as of June 30, 2024, and is paid quarterly.
The completion of the third hybrid system marks a significant milestone in GSEO’s commitment to supporting renewable energy solutions and underscores the Company’s role in promoting sustainable energy infrastructure in Australia.