Gresham House energy storage fund acquires battery storage project

Gresham House Energy Storage Fund has conditionally agreed to acquire a c.30MW battery project located near Wester Dechmont, Livingston in West Lothian, Scotland, known as Byers Brae. The Project is part of the pipeline described in the Fund’s Prospectus published on 10 November 2020.

Byers Brae is a battery-only site with a c.30MW/30MW export/import capacity which is currently expected to be commissioned in Q2 2021.  The Project is expected to generate revenues primarily from asset optimisation (whereby it imports and exports power to earn income from the wholesale market and the National Grid-administered Balancing Mechanism), together with frequency response services.

The Project will be acquired from the developers Gresham House DevCo and Noriker Power.

 Current Portfolio

Once completed, the acquisition increases the total capacity of operational utility-scale battery storage projects in the Fund’s investment portfolio to 345MW.

 

Project Location MW
Staunch Staffordshire 20
Rufford Nottinghamshire 7
Lockleaze Bristol 15
Littlebrook Kent 8
Roundponds Wiltshire 20
Wolverhampton West Midlands 5
Glassenbury Kent 40
Cleator Moor Cumbria 10
Red Scar Lancashire 49
Bloxwich West Midlands 41
Thurcroft South Yorkshire 50
Wickham Suffolk 50
Byers Brae West Lothian, Scotland 30
Total 345

 

In addition to the above portfolio, the Fund has a 25MW project in the advanced stages of due diligence, and shortly expects to commission a further 10MW of capacity at its Glassenbury project.

Ben Guest, Fund Manager and Head of Gresham House New Energy, says: “Byers Brae is our first project in Scotland and is expected to help National Grid balance wind generation in the north with power demand in the south. It is located at a point between Edinburgh and Glasgow where physical constraints exist in the transmission system and is therefore expected to benefit from additional revenue System Actions in the Balancing Mechanism.”

 

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