UK battery energy storage system (BESS) owner-operator Gresham House Energy Storage Fund has put a 50MW/50MWh project into commercial operation in Lancashire.
Situated in Penwortham, south-west of the county capital Preston, the 1-hour duration BESS is set to be expanded to 2-hours in the summer, meaning its capacity would be 50MW/100MWh.
With the commencement of this new BESS, the operational capacity of the Gresham House Energy Storage Fund (listed as GRID) has now reached 790MW/926MWh. The project is the fund’s 25th operational asset since IPO.
Ben Guest, fund manager of GRID and managing director of Gresham House New Energy, said: “Penwortham is our 25th operational site acquisition since IPO. We’re pleased to have hit this milestone and to be completing projects at a steady pace with Grendon, West Didsbury, York and now Penwortham all being energised in the last nine months.
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“Our pipeline projects are expected to be completed, contribute to earnings and be accretive to cashflow per share in 2024. Including duration extensions on 340MW of already operational projects, we expect to reach 1,072MW/1,696MWh by the end of the year. We look forward to announcing further progress.”
Earlier this month, GRID stated that its revenues had started to recover in 2024 after falls in 2023.
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