Gresham House Energizes 50MW UK BESS

• Gresham House Energy Storage Fund energises West Didsbury 50MW battery in Manchester, England. Operational capacity reaches 690MW with revenue expected in December. Expansion to 100MWh in 2024 and 1.1GW/1.7GWh of projects by year end. Each megawatt/megawatt-hour capacity lowers cashflow and more commissioning announced soon.

Gresham House Energy Storage Fund has energised its West Didsbury 50MW battery in Manchester, England, bringing the portfolio's total operational capacity to 690MW and is expected to start generating revenue in December. The site is planned to undergo an extension from 50MWh to 100MWh in 2024, increasing its earnings potential. Gresham House is aiming to have 1GW of operational projects by first half of 2024 and 1.1GW/1.7GWh by the end of the year, not including any disposals. The addition of each megawatt and megawatt-hours of capacity allows the fund to lower the cashflow required to cover the dividend. Further project commissioning is expected to be announced in the following months.

What Is Gresham House's Plan to Reach 1GW of Operational Projects by 2024?

• The fund's development pipeline consists of more than 10 projects, located in the UK, France and Ireland with a total capacity of 4.4GW and 6GWh.
• Gresham House is focusing on projects that provide the most value, and has identified 1GW of projects that can be operational by 2024.
• The fund is targeting to reach this goal by actively creating opportunities in the market, working with strategic partners, and pursuing organic growth.
• This portfolio will primarily consist of projects of various sizes, ranging from 1MW to large-scale sites with more than 100MW capacity.
• Besides the projects mentioned above, Gresham House is also working on a hybrid project in Northern Ireland, which combines battery storage and wind energy.
• The fund is also in the process of developing green hydrogen projects, which could contribute to the 1GW goal.
• Gresham House plans to finance its projects through a combination of debt and equity, with most of the funds coming from institutional investors.
• The fund is also making use of a variety of incentives and schemes, such as the UK Government’s Contracts for Difference, to achieve its goals.