Storage financier Gresham in battery double

• 45MW of new projects brings UK financier's portfolio to nearly 400MW

Storage space capitalist Gresham House Energy Storage Fund has actually finished the acquisitions two projects in the UK amounting to 45MW.

The detailed gamer has actually bought a 35MW battery project found in North Shields, Tyne and Wear, and also a 10MW battery project found in Essex.

The projects are both operational battery-only websites with total export/import capacity of 45MW and both are linked to the distribution network.

They were commissioned in 2018 and create availability-based got incomes from Enhanced Frequency Response services offered to National Grid (growing in 2022), in addition to having ability market contracts.

The complete functional capability of the fund's financial investment portfolio is now 395MW, across 15 projects in 12 regions.

Chair John Leggate stated: "As we approach our 400MW milestone, we are delighted to acquire the first two projects of the brand-new pipe we introduced along with our ₤ 120 million fundraise in November.

" These most current projects improve functional capacity by an additional 13%, consequently underpinning reward cover and standing for a further action in our portfolio growth passions."