August 20 (Renewables Now) - Gresham House Energy Storage Fund Plc (LON:GRID) has closed the acquisition of a 5-MW battery-only project in Wolverhampton for an enterprise value of GBP 3.5 million (USD 4.2m/EUR 3.8m).
The fund bought this operating facility from a vehicle owned by Gresham House DevCo Limited and Noriker Power Limited. It is one of the identified assets listed in Gresham House Energy Storage Fund’s initial public offering (IPO) prospectus.
Following the latest purchase, the total investment portfolio of the fund now amounts to 75 MW and includes six utility-scale battery storage assets. Gresham House Energy Storage Fund expects to acquire a 49-MW battery storage facility by the end of the year and to reach 229 MW in operation by the end of the first quarter of 2020.
(GBP 1.0 = USD 1.209/EUR 1.092)