Gresham House Energy Storage Fund has bought its biggest battery storage project yet, a 50MW scheme in south Yorkshire.
The grid-connected site at Thurcroft near Rotherham is the fund’s tenth UK project. To be constructed by Noriker Power and the fund’s in house developers GH DevCo, it is expected to commission in early summer.
Once completed, the Thurcroft acquisition will bring Gresham House’s UK storage capacity to 224MW, with the firm eyeing 330MW by the year end.
Chairman John Leggate told investors to expect announcements on more projects, including a 50MW operational target in Wickham Market, Suffolk and a 10MW extension to a project at Glassenbury, Kent. An unnamed third site may yield a further 50 MW, conditional on planning consent and due diligence, he noted.
The firm last month raised a further £31m to expand its portfolio.
Starting with £100 million from its IPO in November 2018, Gresham House has now raised a total of £237 million. Besides storage, the asset manager also has interests in 195 MW of wind and solar generation.