Gresham House Energy Storage Fund (GRID), a trust that invests in a diversified portfolio of utility-scale battery energy storage systems (BESS) across the UK and Ireland, has raised £100m through the issuance of 89,285,714 shares of 1p each in the capital of the company.
The issue price per new share was 112p. The financing will go towards four projects that will propel business pipeline to 500MW. Two utility-scale BESSs from the fund's current pipeline, located in Grendon and Penwortham, will be constructed with the proceeds, totalling 150MW. The funds will also go towards two other projects, Stairfoot and Project Y, totalling 90MW. Gresham House eyes further fund launches after growing AUM by 42% in 2020 "Strong investor demand means we can commit to further developing our pipeline thereby creating greater diversification and scale for ...
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