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.
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