Gresham House acquires 50MW UK battery

• Wickham Market project in Suffolk brings fund's total storage portfolio to 315MW

Gresham House Energy Storage Fund has actually finished its financial investment in the 50MW Wickham Market battery in Suffolk, England.

The project has actually been gotten from Gresham House Devco as well as Noriker Power for a business worth of ₤ 32.75 m (EUR36.44 m) plus approximately ₤ 0.75 m of delayed contingent consideration.

Wickham is attached to the distribution network and also the appointing tests have actually currently been successfully finished.

The project is anticipated to produce its incomes from trading whereby it imports and also exports power in order to make earnings from the wholesale market, and also from National Grid's FFR tenders and also stabilizing device.

Given that energisation, the asset has actually likewise offered regularity action ability under the new dynamic containment service acquired by National Grid.

The acquisition boosts the complete capability of the 12 operational utility-scale battery storage projects in the fund's investment portfolio to 315MW.