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Latest acquisition increases Gresham House Energy Storage’s operational portfolio to 395MW

battery stoage

Gresham House Energy Storage (GRID) has acquired a 35MW battery project located in North Shields, Tyne and Wear and a 10MW battery project located in Essex. This transaction follows GRID’s recent acquisitions of two 50MW projects (Wickham and Thurcroft) and the 25MW Tynemouth project (click here to read more). The acquisition increases GRID’s operational portfolio to 395MW.

GRID notes that the acquired projects are both operational battery-only sites with total export/import capacity of 45MW and both are connected to the distribution network. They were commissioned in 2018 and generate availability-based contracted revenues from enhanced frequency response services provided to National Grid (maturing in 2022), as well as having capacity market contracts; Port of Tyne (12-year) and Nevendon (multiple 1-year contracts).  

On 24 December 2020, GRIDannounced the conditional acquisition of the 30MW Byers Brae project in Scotland, which once completed, will increase the portfolio capacity to 425MW.

John Leggate CBE, GRID’s chair, said: “As we approach our 400MW milestone, we are delighted to acquire the first two projects of the new pipeline we announced along with our £120 million fundraise in November. These latest projects boost operational capacity by a further 13%, thereby underpinning dividend cover and representing a further step in our portfolio growth ambitions”

The composition of GRID’s operational portfolio of 395MW is shown in the table below.

wdt_ID Project Location MW
1 Staunch Staffordshire 20
2 Rufford Nottinghamshire 7
3 Lockleaze Bristol 15
4 Littlebrook Kent 8
5 Roundponds Wiltshire 20
6 Wolverhampton West Midlands 5
7 Glassenbury Kent 40
8 Cleator Moor Cumbria 10
9 Red Scar Lancashire 49
10 Bloxwich West Midlands 41

GRID: Latest acquisition increases Gresham House Energy Storage’s operational portfolio to 395MW

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