Gresham House Energy Storage Fund has bought a 41MW energy storage facility from a group of investors led by Arenko Cleantech.
The UK battery storage fund said it has paid an initial £20.1m (€22.3m), with further potential earnout payments, for Bloxwich.
The facility, commissioned in July 2019, is located on the Bloxwich Industrial estate in Walsall in the West Midlands. This project was previously disclosed by Gresham House as a potential acquisition.
The deal increases the fund’s total capacity of operational utility-scale battery storage projects to 215MW.
John Leggate, chair of Gresham House Energy Storage Fund, said: “With the operational portfolio now over 200MW for the first time, we continue to make progress executing on our 2020 plan, and we look forward to updating our shareholders.”
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