Gresham House Energy Storage Fund plc(GRID), the UK's largest fund investing in utility-scale battery energy storage systems (BESS), has announced the signing of a Sale and Purchase Agreement for the conditional acquisition of a 100MW battery project in Elland, West Yorkshire. The project, known as “Elland 2,” represents a significant expansion of the company's energy storage portfolio and forms part of its Three-Year Plan outlined in the 2025 Interim Report.

Project Specifications and Strategic Location

Elland 2 is being designed with a 2-hour duration capacity and includes provisions for extension to a longer duration in the future. The project's strategic positioning adjacent to the operational Elland 1 site, which is already owned by the Company, offers operational efficiencies across both installations. Elland 1 was energized in November 2024, providing the company with established knowledge and experience in the local area.

Once completed, Elland 2 will have a capacity of 100MW/200MWh, making it larger than any other project in the company's current operational portfolio. The project is part of the new project pipeline detailed in the Company's Three-Year Plan and 2025 Interim Report.

Acquisition Conditions and Timeline

The acquisition remains conditional on several factors, with the primary condition being the Company's confirmation that it is satisfied the project will receive or has received an acceptable Gate 2 connection offer. This confirmation is expected to occur by the end of March 2026 at the latest. The confirmation and grid connection offer will be received through the ongoing Queue Reform process, which is being managed by the National Energy System Operator (NESO).

Ben Guest, Fund Manager of Gresham House Energy Storage Fund plc and Managing Director of Gresham House Energy Transition, stated that the company aims to begin construction of Elland 2 within the next few months and will procure long-lead items in the meantime. He described the acquisition as “a major step in the Three-Year Plan.”

Company Background and Investment Focus

Gresham House Energy Storage Fund plc focuses on investing in a diversified portfolio of utility-scale battery energy storage systems located in Great Britain and internationally. The Company's investment strategy aims to provide investors with capital growth prospects by reinvesting net cash generated in excess of its target dividend, in accordance with the Company's investment policy.

The fund is managed by Gresham House Asset Management Ltd, which operates as the FCA authorised operating business of Gresham House Ltd, a specialist alternative asset manager. The parent company positions itself as committed to operating responsibly and sustainably, taking a long-term view in delivering sustainable investment solutions.

Technology and Market Context

Utility-scale battery energy storage systems serve as enabling infrastructure supporting the continued growth of renewable energy sources such as wind and solar power. These systems are considered essential to the UK's stated target to reduce carbon emissions. The technology works by storing excess energy generated by renewable energy sources and releasing it back into the grid during peak demand hours, when energy consumption is higher.

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