Reporter, Solar Media
Gresham House added the Wickham Market grid-scale battery project (pictured) to its portfolio among a wave of other acquisitions in the past few months alone. Image: Gresham House Energy Storage Fund.
Battery storage portfolio investor Gresham House Energy Storage Fund has acquired 55MW of UK projects in the past few weeks and completed a 10MW extension to an existing project.
Gresham House Energy Storage Fund, which is listed on the London Stock Exchange under the ticker symbol GRID, conditionally agreed to acquire its first project north of the English border in Scotland in a deal announced in late December.
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Gresham House Energy Storage Fund acquires large utility-scale battery storage project 7:08 am
Gresham House Energy Storage Fund PLC (LON:GRID), the UK’s largest operational utility-scale battery storage fund, has conditionally agreed to acquire a c.30MW battery project located near Wester Dechmont, Livingston in West Lothian, Scotland. The Project is part of the pipeline described in the Fund’s Prospectus published on 10 November 2020.
Byers Brae is a battery-only site with a c.30MW/30MW export/import capacity which is currently expected to be commissioned in Q2 2021. The Project is expected to generate revenues primarily from asset optimisation (whereby it imports and exports power to earn income from the wholesale market and the National Grid-administered Balancing Mechanism), together with frequency response services.
Gresham House Energy Storage Fund has conditionally agreed to acquire a 30MW battery project in Scotland, its first in the country.
Byers Brae, which is located near Wester Dechmont in West Lothian, is part of the pipeline described in the fund’s prospectus published on 10 November.
It is a battery-only site with about 30MW/30MW export/import capacity which is currently expected to be commissioned in the second quarter of 2021.
The project is expected to generate revenues primarily from asset optimisation, whereby it imports and exports power to earn income from the wholesale market and the National Grid-administered Balancing Mechanism, together with frequency response services.
Published: 24 Dec 2020, 09:46
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Gresham House Energy Storage Fund s Wickham Market battery, part of the company s acquisition spree this year. Image: GRID.
Gresham House Energy Storage Fund (GRID) has conditionally agreed to acquire a c.30MW battery project known as Byers Brae.
The site is located near Wester Dechmont, Livingston in West Lothian, Scotland, and is a battery-only project currently being developed by Gresham House DevCo and Noriker Power.
It is expected to be commissioned in Q2 2021, and being generating revenue from asset optimisation explained GRID. It will trade in the wholesale market, and National Grid ESO’s Balancing mechanism, as well as providing frequency response services.