Gresham House Energy Storage Fund has announced it has energised its Penwortham project in England, a 50MW/50MWh battery south-west of Preston, Lancashire.
Plans to double Penwortham’s capacity to 50MW/100MWh are well progressed and this is expected to be completed during the summer, said the development fund.
The energisation of Penwortham takes GRID’s operational capacity to 790MW/926MWh.
“Penwortham is our 25th operational site acquisition since IPO,” said fund manager of Gresham House Energy Storage Fund and nanaging director of Gresham House New Energy Ben Guest.
“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,” he added.
“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 1072MW/1696MWh by the end of the year.
“We look forward to announcing further progress.”