The VCTs seek to invest in companies that they believe are materially de-risked and will provide shareholders with a reliable source of tax-free income and maximise the potential for capital preservation.
Gresham House Renewable Energy VCT 1 plc and Gresham House Renewable Energy VCT 2 plc were launched by Gresham House New Energy (formerly Hazel Capital LLP) in 2010. £41.6m was raised between 2010 and 2011 representing the most successful ever launch by a new entrant to the VCT market. The VCTs have since launched three Top-Up Offers (2012, 2014 and 2017). Both were fully subscribed to a target fund raise together of just over £8.0m.
The Gresham House Renewable Energy VCTs are currently ranked ‘best in class’ when compared to all other renewable energy focused VCT offerings launched in 2010/2011 in terms of Total Return. They have successfully invested in 16 projects including 6 Feed-In Tariff and 2 ROCs (Renewables Obligation Certificates) accredited ground-mounted solar projects.
An investor in the VCTs’ original share offer has enjoyed a Total Return (NAV at 31 March 2018 plus dividends to date for Ordinary and A shares combined) of 154.0p for every 100p invested in VCT 1 and 153.0p for every 100p invested in VCT 2.