Gresham House spends £20m on Arenko’s 41MW Bloxwich battery

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Gresham House Energy Storage Fund has completed the 41MW Bloxwich battery storage facility acquisition from Arenko, taking its operational portfolio to 215MW.

Commissioned 12 months ago, Bloxwich targets merchant revenues in the wholesale and balancing mechanism, plus contracted frequency services. 

The deal is for an initial £20.1m, but under deal terms Arenko may receive more from earnout payments.

Gresham House fund manager, Ben Guest, indicated the firm is likely to do more deals with Arenko.

“We are delighted to have completed this acquisition. Arenko is one of only a handful of innovative and technically-capable operators and optimisers of energy storage systems in the market, as demonstrated by their recent announcements. We look forward to working with them as the market burgeons in Great Britain.”

The company outlined its portfolio and also provided an update on its development pipeline. The 50MW Wickham Market and  50MW Thurcroft projects have been slightly delayed by Covid-19 and are now expected to be completed by the end of Q3 2020.

The 10MW Glassenbury extension is due to be commissioned in Q3 2020. Completing those three projects will give the fund will 325MW of operational capacity.

Operational Portfolio

Facility

Location

MW

Acquisition date

Staunch

Staffordshire

20

November 2018

Rufford

Nottinghamshire

7

November 2018

Lockleaze

Bristol

15

November 2018

Littlebrook

Kent

8

November 2018

Roundponds

Wiltshire

20

November 2018

Wolverhampton

West Midlands

5

August 2019

Glassenbury

Kent

40

December 2019

Cleator

Cumbria

10

December 2019

Red Scar

Lancashire

49

December 2019

Bloxwich

West Midlands

41

July 2020

Current Operational Portfolio

 

215

 

 

Pipeline Project

Location

MW

Commissioning Date (1)

Wickham Market

Suffolk

50

Expected Q3 2020

Thurcroft

South Yorkshire

50

Expected Q3 2020

Glassenbury extension

Kent

10

Expected Q3 2020

Exclusivity Pipeline Project (2)

Near Edinburgh

30

Expected Q4 2020

Total Pipeline

 

140

 

 

 

 

 

Total Portfolio and Pipeline

 

355

 

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