•  
  •  
  •  

Gresham House's storage fund grows portfolio with 5 MW buy

Author: Portland General Electric. License: Creative Commons, Attribution-NoDerivs 2.0 Generic.

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)

More stories to explore
Share this story
Tags
 
About the author
Browse all articles from Ivan Shumkov

Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

More articles by the author
5 / 5 free articles left this month
Get 5 more for free Sign up for Basic subscription
Get full access Sign up for Premium subscription