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(Alliance News) - Gresham House Energy Storage Fund PLC on Friday said it has conditionally agreed to acquire a battery project located near Thurcroft, England.
Thurcroft is a battery-only site with a 50 megawatts export/import capacity and commissioning is expected in the second quarter of 2020. This project is expected to generate revenue primarily from asset optimisation.
The investment company said the project will be acquired from Gresham House DevCo Ltd and Noriker Power Ltd.
Once completed, the acquisition increases the total capacity of operational utility-scale battery storage projects in the Gresham House Energy Storage Fund's investment portfolio to 224 megawatts.
The stock was trading flat in London on Friday at 90.50 pence a share.
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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