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.
Gresham House Energy Storage Fund has completed the purchase of a 5MW standalone battery storage project.
Gresham House has confirmed it is to launch a fresh fund raising drive as it sets its sights on a new, 182MW pipeline of battery storage projects.
Gresham House has raised £100 million to drive its energy storage fund onto the London Stock Exchange, half the amount planned last month but enough to progress plans to acquire a 70MW seed portfolio.
Gresham House, formerly Hazel Capital, is to float an energy storage fund on the London Stock Exchange next month, with an aim to raise £200 million to fund 262MW of energy storage projects over the next year.
Gresham House has agreed a deal to acquire fellow investment fund manager FIM Services for £25 million.