The UK BESS-owning Gresham House Energy Storage Fund has launched a formal sales process, a decision which has seen its share price jump 10%.

After a quiet period, M&A in the UK’s large-scale BESS market has picked up with transactions from CIP, Fidra Energy, Elements Green, Gresham House and Eelpower in the past fortnight.

Managers of the UK’s largest BESS owner-operator Gresham House Energy Storage Fund (GRID) discussed recent investment news and future strategy this week. 

In a major week for European BESS deal-making, project acquisition and financing deals have been done in the Poland, Germany, Finland, the UK and Romania for grid-scale projects totalling well over 1GW of capacity.

The UK had one of its best months of the year for large-scale BESS projects being completed in August.

UK BESS owner Gresham House Energy Storage Fund (GRID) has entered into long-term floor agreements with Statkraft and Markel Bermuda, which will partially replace its toll with Octopus once that expires next year.

UK BESS fund Harmony Energy Income Trust (HEIT) has progressed the sale of its portfolio to the second round, a process which a source told us raises questions around listed funds’ role in the BESS industry.

UK battery energy storage system (BESS) investment fund Gresham House Energy Storage Fund has announced its half-year results to the end of June 2024.

‘Not all providers are equal’ and using different ones for the same project has not proved problematic when it comes to BESS project augmentation, an executive from investment manager Gresham House said.

We hear from Gresham House and optimisers Capalo AI and Flower on the BESS industry’s move away from merchant-only models towards more contracted revenues.