Gresham House inks terms to buy latest 50MW battery project


Fast-expanding utility-scale storage fund Gresham House has agreed purchase conditions to buy its second 50MW battery project.

Today’s acquisition of the planned Wickham Market facility brings the firm’s UK total battery capacity – either already commissioned or close to operation – to 274MW.

Covid-19 permitting, the site near Woodbridge in Suffolk is intended to go live later this summer, stated the firm. Targeting revenues from grid balancing, it has 50MW export/40MW import capability.

Wickham Market’s vendors are a partnership of the fund’s development arm and developers Noriker Power. The site has no immediate generation capability controlled by the firm, but is close to a grid connection point run by UKPN.

The acquisition comes three weeks after Gresham House announced its first 50 MW project, at Thurcroft, south Yorkshire.

Now owning eleven utility-scale projects across England, Gresham House Energy Storage Fund under chairman John Leggate commands gross assets of £237 million.

Expansions planned at other facilities, including at Glassenbury in Kent, will bring Gresham House’s capacity to over 330MW by December 2020, Leggate told investors last month.

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