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    Gresham House activates BESS

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    Gresham House Energy Storage Fund has declared the activation of its Penwortham initiative in England, unveiling a 50MW/50MWh battery located southwest of Preston, Lancashire.

     

    The fund also indicated its intention to double Penwortham’s capacity to 50MW/100MWh, with plans advancing well and anticipated completion in the summer, according to the development fund. With the energisation of Penwortham, GRID’s operational capacity now stands at 790MW/926MWh.

     

    Ben Guest, fund manager of Gresham House Energy Storage Fund 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.”

     

    “We remain resolutely focused on delivering the rest of the pipeline in a timely manner, as we set out in our recent annual results. 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 1072MW/1696MWh by the end of the year. We look forward to announcing further progress.”

     

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