Gresham House Energy Storage buys 50MW battery project in England

Gresham House Energy Storage Fundhas conditionally agreed to acquire a 50MW battery project located near Wickham Market, Suffolk, England. The project was in the exclusivity pipeline identified in the October 2018 IPO prospectus.

Wickham is a battery-only site with a 50MW/40MW export/import capacity which is currently expected to be commissioned over summer 2020. The exact commissioning date may be impacted by COVID-19 related restrictions, and therefore remains subject to change. The project is expected to generate revenues primarily from asset optimisation (whereby it imports and exports power in order to earn income from the wholesale market and the National Grid-administered Balancing Mechanism).

The project will be acquired from Gresham House DevCo Limited and Noriker Power Ltd, who developed the project together.

This takes the total capacity of operational utility-scale battery storage projects in the portfolio to 274MW (including the Thurcroft project which was announced on 20 March 2020).

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