Gresham House Energy Storage Fund Plc, London, United Kingdom, (LON:GRID) said today it has finalised the acquisition of the 50-MW Wickham battery storage project in Suffolk, East Anglia, Renewablesnow.com reports.
The battery-only site near Wickham Market was purchased from developers Gresham House DevCo Limited and Noriker Power Ltd for an undisclosed sum.
The facility, with a 50MW/40MW export/import and 74 MWh of storage capacity, has undergone commissioning tests and is now fully operational. It will bring revenues mainly from asset optimisation, earning income from the wholesale market and the National Grid’s firm frequency response (FFR) tenders and balancing mechanism. The asset has already provided frequency response capacity under National Grid’s Dynamic Containment service.
After putting the Wickham online, Gresham House has expanded the operational capacity in its portfolio to 315 MW, the battery storage fund said. It now has 12 utility-scale energy storage facilities with individual capacities of between 5 MW and 50 MW.
Last month, Gresham House purchased a 50-MW/75-MWh battery storage system near Thurcroft, South Yorkshire, which was recently hooked to the distribution network. The asset was also acquired from Gresham House Devco Limited and Noriker Power for GBP 32.75 million (USD 43.7m/EUR 36.5m).
(GBP 1.0 = USD 1.335/EUR 1.115)