The Energy Storage Report 2024

Now available to download, covering deployments, technology, policy and finance in the energy storage market

Gresham House turns 50MW/50MWh UK project online, 2-hour expansion nearly complete 

LinkedIn
Twitter
Reddit
Facebook
Email

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.

This article requires Premium SubscriptionBasic (FREE) Subscription

Enjoy 12 months of exclusive analysis

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Annual digital subscription to the PV Tech Power journal
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

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. 

“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.

To see the full original version of this article head over to Solar Power Portal.

Read Next

May 21, 2024
There is “no shortage of investor appetite” and policy support is in place, but there are still some barriers to energy storage deployment on the scale needed to decarbonise Australia’s energy sector.
Premium
May 16, 2024
UK electricity market operator National Grid ESO is reassessing how much energy storage gets paid in the Capacity Market, battery storage operators told Energy-Storage.news, with one calling the current system ‘outdated’.
May 15, 2024
US asset manager Stonepeak has entered Japan’s energy storage market, forming a partnership with CATL-backed developer CHC.
May 14, 2024
UK battery energy storage system (BESS) developer-operator Statera has submitted a planning application for a 500MW project in Oxfordshire, England.
May 10, 2024
Much more needs to be done to ensure that European countries create the right investment environment for flexibility resources in the electricity system, writes Eaton’s Siobahn Meikle.

Most Popular

Email Newsletter