Almost 90% of UK investor Gresham House’s half-year revenues from frequency response

By Alice Grundy
Share on linkedin
Share on twitter
Share on reddit
Share on facebook
Share on email
A Gresham House battery energy storage project site. Image: Gresham House.

London Stock Exchange-listed energy storage investor Gresham House Energy Storage Fund has seen the EBITDA generated by its portfolio soar to £22.4 million (US$30.53 million) in the first half of this year, jumping from £4.5 million in H1 2020.

This was largely driven by attractive frequency response services, representing 88.5% of the total, with the remainder from the Capacity Market and power trading opportunities which Gresham House took advantage of as they arose.

Frequency response resulted in £22.04 million in revenue over H1, while Dynamic Containment generated £16.18 million, enhanced frequency response (EFR) generated £5.25 million, the Capacity Market generated £1.53 million, trading £1.36 million and firm frequency response (FFR) £0.62 million.

Gresham House said that the backdrop is “much improved” compared to mid 2020, with the importance of battery energy storage systems’ (BESS) role in providing flexibility becoming increasingly clear.

To read the full version of this story, visit Solar Power Portal.

Read Next

October 26, 2021
Honeywell has made the first announcements around a long-duration battery storage technology it has developed for pilot deployments to begin next year. 
October 26, 2021
It’s the latest episode of the Solar Media Podcast, this time in collaboration with Solar Energy UK, as we look forward to COP26.
October 25, 2021
Companies in the battery storage sector attracted US$11.4 billion in corporate funding in the first nine months of 2021, a 363% rise on the same period of last year. 
October 25, 2021
UK renewable energy and energy storage company Anesco is to build and maintain 100MW of battery energy storage for investors JLEN and Foresight Solar Fund Limited (FSFL).
October 22, 2021
A gigawatt-scale factory producing lithium iron phosphate (LFP) batteries for the transport and stationary energy storage sectors could be built in Serbia, the first of its kind in Europe. 

Most Popular

Email Newsletter