Battery programmer Gresham bags ₤ 100m.

• New moneying to be used to fund existing and new storage space projects.

Battery gamer Gresham House Energy Storage Fund has increased ₤ 100m in a share placement.

The firm said the concern was "substantially oversubscribed and also a scaling back exercise has actually been undertaken".

The net earnings will certainly be made use of to finance the construction of both remaining storage space projects from totalling 150MW, the Grendon and also Penwortham systems.

Projects referred to as Stairfoot and also Project Y, amounting to some 90MW, will certainly additionally be backed.

Jefferies International worked as single worldwide coordinator, bookrunner and financial consultant to the business.

John Leggate, chair of Gresham House Energy Storage space Fund, claimed: "Strong financier need indicates we can devote to further developing our pipe therefore developing greater diversification as well as scale for our investors, while maintaining funding technique.

" We are exceptionally grateful to our financiers for their rely on GRID, and excited concerning the worth that our installed capacity as well as development method is anticipated to provide."