Gresham House, UKIB: Powering the Renewable Revolution
- Gresham House and UKIB join forces to invest £140m in renewable energy and storage projects across the UK. Centrica and UKIB commit £65m cornerstone investment, Gresham House SIRES launch with 50MW solar and 75MWh battery storage project in Hartlepool. Unlock bigger revenues with renewable projects and energy storage!
Gresham House and the UK Infrastructure Bank have confirmed a partnership to support a limited partnership investing in renewable energy and storage projects in the UK. The strategy has been backed by a £65m cornerstone investment by Centrica and UKIB, which has committed £75m in match-funding. The Gresham House Secure Income Renewable Energy & Storage LP (SIRES) is focused on developing collocated renewables generation and short duration electricity storage plants. The seed asset is a collocated solar and battery energy storage project in Hartlepool, County Durham, with 50MW solar capacity and 75MWh of battery energy storage which is currently under construction. Gresham House is exploring a significant pipeline of other projects to deploy new capital into. These projects can earn larger and more diverse revenues compared to single-technology sites, providing income from multiple return streams. Battery storage helps to prevent the wasting of renewable energy during periods of abundant supply, instead storing it for use when demand outstrips supply.
What Benefits Does Gresham House SIRES Offer?
- SIRES offers investors a direct investment opportunity in a portfolio of renewable energy and storage projects in the UK.
- The strategy provides investors access to multiple revenue streams from renewable energy and storage assets.
- The strategy has been designed to target stable and predictable cash flows from long-term contracted revenues.
- The projects are expected to benefit from UK government support, such as the Contract for Difference and Capacity Market mechanisms.
- Gresham House has secured exclusive access to a large pipeline of projects, which are expected to deliver attractive returns for investors.
- The strategy also offers investors exposure to the growing energy storage sector and the potential for additional value through active asset management.