Gresham House to take forward 240MW of battery storage with new investment

Gresham House Energy Storage Fund says it will take forward construction of battery storage projects 240MW after a share issue raised £100M. It said the placing was “significantly oversubscribed and a scaling back exercise has been undertaken”.
The company says it will take forward two projects from the ‘current pipeline’ totalling 150MW (Grendon and Penwortham) and two from its ‘subsequent pipeline’ totalling 90MW (Stairfoot and Project Y).
John Leggate chair of Gresham House Energy Storage Fund said: “Strong investor demand means we can commit to further developing our pipeline thereby creating greater diversification and scale for our shareholders, while maintaining capital discipline. We are extremely grateful to our investors for their trust in GRID, and excited about the value that our installed capacity and growth strategy is expected to deliver.”