Gresham House Energy Storage Fund PLC - London head-quartered battery storage fund - Expands partnership with energy market software platform provider Arenko Group. Arenko will perform asset optimisation on five additional utility scale batteries for the fund. Optimisation consists of Arenko's proprietary end-to-end trade optimisation and automated dispatch software to maximise returns from battery assets. Contracts total 210 megawatts and will be realised during 2022. Renews previous contract for Byers Brae 30 megawatt battery optimisation. The partners also have a framework agreement for Arenko to optimise a further 215 megawatts.
Including previous contracts, Arenko will have total optimisation agreements for over 500 megawatts of battery assets with Gresham House.
Fund Manager, Ben Guest, said: "Gresham House Energy Storage Fund is committed to achieving excellence in all areas of its business, including the maximisation of its potential revenues, and this overall agreement is an important part of this effort."
Current stock price: 132.50 pence, closed down 0.2% on Tuesday
12-month change: up 18%
By Elizabeth Winter; elizabethwinter@alliancenews.com
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Gresham House (GRID)