24 December 2020 | 07:37am
StockMarketWire.com - Battery storage investor Gresham House Energy Storage Fund said it had agreed to acquire an around 30 megawatt project in Scotland, for an undisclosed sum.
The battery project was located near Wester Dechmont, Livingston in West Lothian, Scotland.
Gresham House said it was part of a pipeline described in its prospectus published on 10 November.
Byers Brae was a battery-only site currently expected to be commissioned in the second quarter of 2021.
It was being acquired from Gresham House DevCo and Noriker Power. Byers Brae is our first project in Scotland and is expected to help National Grid balance wind generation in the north with power demand in the south, fund manager Ben Guest said.
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.