Gresham House Energy Storage Fund (GRID) has signed sale and purchase agreements for the conditional acquisitions of the 240MW Cockenzie project in East Lothian and the 57MW Monet’s Garden project in North Yorkshire.
The company said the acquisitions of Elland 2 and Monet’s Garden have completed and transferred to its ownership.
It added that Cockenzie and Monet’s Garden are designed to a two-hour duration with potential for extension.
GRID has now acquired or conditionally acquired 397MW across three of the five projects identified in its Three-Year Plan.
The acquisition of Cockenzie remains conditional on GRID confirming the project will receive an acceptable Gate 2 connection offer from the National Energy System Operator.
The manager is working on concluding financing to begin construction following the receipt of Gate 2 offers.
GRID stated that it has typically acquired projects from the Gresham House group under its first right of refusal with payment deferred once conditions are met.
The company added that Monet’s Garden and the existing 50MW York project form a combined 107MW site, while Elland 2 and the operational 50MW Elland project create a combined 150MW site.
GRID said initial notifications from NESO confirm all pipeline projects will receive Gate 2 protected connection offers with 2026 to 2030 dates.
“With the signing of these latest sale and purchase agreements, we are delighted that we closed out the year having substantially completed the heavy lifting for the next phase of the Three-Year Plan,” said John Leggate, chair of Gresham House Energy Storage Fund.
“It is also gratifying that revised Queue Reform offers on all our projects are expected very soon and that the notifications provided to date have confirmed the protected status of the pipeline,” he added.
“We look forward to making announcements on further progress in due course,” stated Leggate.
“Today’s announcement is another key step in the execution of our Three-Year Plan, of which we are now one year into its implementation,” said Ben Guest, fund manager of Gresham House Energy Storage Fund and managing director of Gresham House Energy Transition.
“We look forward to completing the acquisition of all the remaining pipeline and starting construction on all projects,” Guest added.
“Project construction will be staggered to reflect the connection dates of the projects; these dates will be confirmed when grid connection offers have come through in January 2026, and no later than March 2026 in the case of Elland 2. To maintain our growth momentum, we are progressing early works, the completion of the project financing and advancing long lead equipment orders in the meantime.”