Statkraft has signed optimisation power purchase agreements with Gresham House Energy Storage Fund covering 412MW of operational battery storage capacity.
The deals span 13 BESS sites and include a minimum income guarantee designed to support augmentation and refinancing of the assets.
Statkraft will integrate existing PPAs into the new framework, enabling the portfolio to benefit from the income floor.
The agreement brings Statkraft’s UK battery optimisation portfolio to over 3GW.
Statkraft head of UK flexibility Brian Lonn said: “This agreement means Statkraft can support GRID in delivering shareholder value, as well as contributing towards the decarbonisation of the GB energy system.”
GRID fund manager Ben Guest said: “PPAs with minimum income guarantees are relatively new to the BESS industry… We are pleased to be expanding our relationship with Statkraft through this significant new agreement.”