Gresham House Energy Storage Fund Switches on 50-MW/50-MWh Battery

Source: www.gulfoilandgas.com 5/13/2024, Location: Europe

Gresham House Energy Storage Fund plc (LSE: GRID), the UK's largest fund investing in utility-scale battery energy storage systems (BESS), is pleased to announce that it has energised its Penwortham project, a 50MW/50MWh BESS[1] just southwest of Preston, Lancashire ("Penwortham"). Plans to double Penwortham's capacity to 50MW/100MWh are well progressed and this is expected to be completed during the summer.

Current Operational Portfolio

The energisation of Penwortham takes GRID's operational capacity to 790MW / 926MWh.

Ben Guest, Fund Manager of Gresham House Energy Storage Fund plc & Managing Director of Gresham House New Energy, said:

"Penwortham is our twenty-fifth 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 1,072MW / 1,696MWh by the end of the year. We look forward to announcing further progress."


South Korea >>  11/1/2024 - - Completed the merger process with SK E&S over the past three months, officially launching a merged entity with assets totaling KRW 105 trillion
...

United States >>  11/1/2024 - AM Batteries, the leader in dry battery-electrode (DBE) technology, has been recognized in TIME Magazine's list of the Best Inventions of 2024. The co...

Canada >>  10/31/2024 - Phenom Resources Corp. ("Phenom" or the "Company") is pleased to announce that the private Japanese battery company, MK Plus Co., Ltd. (MK Plus) has a...
Canada >>  10/31/2024 - Asahi Kasei Corporation (Asahi Kasei) and Honda Motor Co., Ltd. (Honda) announced that the two companies have signed a shareholders’ agreement to conv...

Canada >>  10/31/2024 - 18650 batteries with GEN3 silicon-based materials deliver unmatched capacity and durability [1], providing 3,301 milliampere-hours (mAh) of capacity w...
Canada >>  10/31/2024 - FCL has signed its first master distribution agreement to market FCL-X™ within the USA with AEST Fire and Safety, a USA based fire safety products dis...




Gulf Oil and Gas
Copyright © 2023 ICT All rights reserved. - Terms of Service - Privacy Policy.