# Gresham House Energy Storage Fund acquires 35MW Port of Tyne and 10MW Nevendon projects

- Link: https://www.directorstalkinterviews.com/gresham-house-energy-storage-fund-acquires-35mw-port-of-tyne-and-10mw-nevendon-projects/412957553
- Published: 2021-02-01T07:20:05+00:00
- Author: Giles

**Gresham House Energy Storage Fund plc** ([LON:GRID](https://www.directorstalkinterviews.com/company/gresham-house-plc/ghe.l)),
the UK’s largest operational utility-scale battery storage fund, has completed the
acquisitions of a 35MW battery project located in North Shields, Tyne and Wear and
a 10MW battery project located in Essex. This transaction follows GRID’s recent 
acquisitions of two 50MW projects and the 25MW Tynemouth project. 

The Projects are both operational battery-only sites with total export/import capacity
of 45MW and both are connected to the distribution network.  They were commissioned
in 2018 and generate availability-based contracted revenues from Enhanced Frequency
Response services provided to National Grid (maturing in 2022), as well as having
capacity market contracts; Port of Tyne (12-year) and Nevendon (multiple 1-year 
contracts).  

**Current Portfolio**

Following the commissioning of Glassenbury B the total operational capacity of the
Fund’s investment portfolio increases to 395MW, (across 15 projects in 12 ) counties
as shown below.

| **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 | 
| Tynemouth | Tyne and Wear | 25 | 
| Glassenbury B | Kent | 10 | 
| Port of Tyne | Tyne and Wear | 35 | 
| Nevendon | Essex | 10 | 
| **Total** |  | **395** |

On 24 December 2020 the Fund announced the conditional acquisition of the 30MW Byers
Brae project in Scotland, which once completed, will increase the Portfolio capacity
to 425MW.

> **John Leggate CBE, Chair of Gresham House Energy Storage Fund plc said:**
> “As we approach our 400MW milestone, we are delighted to acquire the first two
> projects of the new pipeline we announced along with our £120 million fundraise
> in November. These latest projects boost operational capacity by a further 13%,
> thereby underpinning dividend cover and representing a further step in our portfolio
> growth ambitions”

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