Gresham House, the largest owner of battery energy storage system (BESS) assets in the UK, has said it sees tolling deals like the one agreed with Octopus being possible “across the optimiser market”.
Octopus Energy has signed a two-year fixed-price tolling agreement with Gresham House Energy Storage Fund for 500MW of its battery assets, bringing the utility’s virtual power plant (VPP) portfolio to over 1.5GW.
Global optimiser Habitat Energy has signed an agreement with Gresham House Energy Storage Fund that will see over 500MW of battery energy storage optimised.
Delays in the growth of Britain’s battery energy storage sector helped boost Gresham House Energy Storage Fund’s (GRID) portfolio performance, resulting in a “strong growth of earnings” in 2022.
Gresham House Energy Storage Fund has seen a 20% like-for-like growth in underlying portfolio EBITDA due to a range of projects having become, or being closer to becoming, operational during 2022.
Gresham House Energy Storage Fund has secured £155 million incremental term debt via an Accordion arrangement contemplated under an existing senior debt facility.
Gresham House Energy Storage Fund (GRID) has seen its net asset value (NAV) increase by 53.5% to £785 million, the firm disclosed in its half year results ending 30 June 2022.
