Gresham House Energy Storage has boosted its operational portfolio of batteries by 66% after buying ‘two of the UK’s largest energy storage facilities’.
The firm has acquired two operational battery storage facilities totalling 50MW from VLC Energy for £29.2 million – they are a 40MW facility at Glassenbury in Kent and a 10MW facility at Cleator Moor in Cumbria.
Initially commissioned in January 2018, the sites boast a combined 50MW capacity, representing a quarter of National Grid’s 2016 Enhanced Frequency Response (EFR) capacity.
John Leggate CBE, Chairman of Gresham House Energy Storage, said: “We are delighted to follow our successful £41.6 million fundraise in October with the acquisition of these operational facilities from VLC Energy.
“We are pleased with progress since our IPO 13 months ago, and this marks the third acquisition since the Seed Assets were purchased at IPO. This takes the Fund’s operational portfolio to 125MW and with a strong pipeline of acquisitions yet to follow.”