noriker power

Equinor has approved the final investment decision of its first battery energy storage asset in the UK.

Norwegian oil and gas giant Equinor has acquired a 45% stake in UK utility scale storage and stability services developer Noriker Power.

Gresham House – which manages funds including Gresham House Energy Storage Fund – has recorded a net core income of £40.8 million and an adjusted operating profit of £12.1 million.

Energy storage investment fund Gresham House has unveiled a new share placing, the proceeds of which will allow it to “grow materially” in the UK energy storage market.

Battery storage fund Gresham House has acquired a stake in frequent development partner Noriker Power in a bid to “further consolidate” its position in the UK battery market.