Listed fund Gresham House Energy Storage Fund (GRID) has completed a third-party equity funding of £8.6 million to finance the augmentation of the combined 50MW Glassenbury projects.
Gresham House Energy Storage Fund (GRID) expects full year operational portfolio revenues of about £42 million, as December saw better dispatch rates of batteries in the balancing mechanism (BM).
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.