Gresham House s Glassenbury battery storage asset. Image: Gresham House Energy Storage Fund.
Gresham House Energy Storage Fund has added a further 35MW to its portfolio with the acquisition of Tynemouth and the completion of its Glassenbury B extension.
The 25MW battery-only Tynemouth site – which is connected to the distribution network – was commissioned in 2018 and generates availability-based contracted revenues from Enhanced Frequency Response services provided to National Grid.
It was acquired from Enel Global Thermal Generation and comes off the back of other recent acquisitions of the 50MW Wickham and also 50MW Thurcroft batteries, costing £32.75 million and £32.5 million respectively.
The acquisition of Tynemouth is being announced alongside the completion of construction of the 10MW expansion to Glassenbury in Kent, which was announced in February 2020 and is expected to be commissioned by 31 January 2021. Following this, the total operational capacity of Gresha