(Alliance News) - Gresham House Energy Storage Fund PLC said Tuesday it has agreed to acquire a 50 megawatts battery project near Wickham Market in Suffolk from developers Gresham House DevCo Ltd and Noriker Power Ltd for an undisclosed price.
The project is a battery-only site with 50MW export to 40MW import capacity which is expected to be commissioned over the summer of 2020, although the exact date may be impacted by the Covid-19 outbreak.
Once the acquisition is completed, it will increase the total capacity of operational battery storage projects in the fund's investment portfolio to 274 megawatts.
"We are delighted to have agreed to acquire our second 50MW utility-scale project which is near Wickham Market in Suffolk, only a few weeks after we announced the intention to purchase Thurcroft in South Yorkshire. Our storage portfolio now spans 10 counties across the country and continues to be the largest of its type in the UK," said Chair John Leggate.
Shares in Gresham House Energy Storage Fund closed 1.0% higher at 96.94 pence on Tuesday in London.
By Dayo Laniyan; dayolaniyan@alliancenews.com
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Gresham House (GRID)