Gresham House proceeds procurement spree with 50MW Wickham battery

Apr 14, 2020 02:43 PM ET
  • Gresham House Energy Storage Fund has actually conditionally consented to get a 50MW battery storage space project.
Gresham House proceeds procurement spree with 50MW Wickham battery
Image: Hazel Capital/Gresham House

The project, which lies near Wickham Market in Suffolk, will certainly take Gresham's overall ability of functional utility-scale battery storage space projects in its financial investment profile to 274MW. This consists of the 50MW Thurcroft project, which was revealed last month. Various other projects in this profile variety from 5MW (Wolverhampton) to 49MW (Red Scar).

The Wickham website is anticipated to be appointed over summer season 2020, although the precise day of appointing might be affected by COVID-19 associated limitations, Gresham stated.

It is a battery-only website with a 50MW/40MW export/import ability, with profits anticipated to be created largely from possession optimization, wherein power is imported and also exported to make revenue from the wholesale market and also the Balancing Mechanism.

It is to be obtained from Gresham House DevCo and also Noriker Power.

Gresham additionally just recently finished the purchase of Red Scar, in addition to a 40MW battery and also 10MW battery from VLC Energy.

Last month, it elevated ₤ 31.2 million in an oversubscribed share positioning, providing 30 million shares at a Placing Price of 104 dime per share.

It is additionally targeting subsidy-free solar, making its very first acquistion of a subsidy-free solar website from Anesco. The 12MW website was energised recently, with prepare for battery storage space to enter on the website.

John Leggate, chairman of Gresham House Energy Storage Fund, admired the storage space profile - which covers 10 regions - as the biggest of its kind in the UK.

"The Gresham House New Energy group remains to provide on our strategies as well as we anticipate making additional statements as we remain to construct out our profile," Leggate included.

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