Energy investor completes Wolverhampton deal
A stock market-listed energy firm has completed its investment in a Wolverhampton battery project.
The 5MW project is valued at £3.5m and has been bought by Gresham House Energy Storage Fund, whih had identified the project when it published its prospectus last October ahead of its IPO.
The project has been acquired from a vehicle owned by Gresham House DevCo and Noriker Power.
The fund now has 75MW in operation, including a 20MW site in Staunch, Staffordshire, and ecpects to have increased this to 229MW by the end of March.
Ben Guest, head of Gresham House New Energy, said: “We are pleased to have completed our investment in Wolverhampton. Utility-scale battery storage is crucial to a renewable energy future in the UK and has significant potential from an investment standpoint.
“We are determined to be part of this revolution that will contribute significantly towards a low carbon economy and are focused on successfully developing our remaining pipeline of utility-scale battery storage projects over the coming months.”
