Gresham House Energy Storage Fund (GRID) has signed sale and purchase agreements for the conditional acquisition of the 240-megawatt Cockenzie battery project in East Lothian and the 57-MW Monet’s Garden project in North Yorkshire, the company said.
GRID added that the acquisitions of the Elland 2 project and Monet’s Garden have now completed and transferred into its ownership. Cockenzie and Monet’s Garden are designed with a two-hour duration, with potential for future extensions, the fund said.
With the latest agreements, GRID has acquired or conditionally acquired 397 MW across three of the five projects identified in its Three-Year Plan. The acquisition of Cockenzie remains subject to GRID receiving an acceptable Gate 2 grid connection offer from the National Energy System Operator (NESO).
The fund manager said it is working to finalise project financing so construction can begin once Gate 2 offers are secured. GRID typically acquires projects from the wider Gresham House group under a first right of refusal, with payment deferred until conditions precedent are met, it added.
Monet’s Garden and the existing 50-MW York battery site together form a combined 107-MW development, while Elland 2 will be co-located with the operational 50-MW Elland project, creating a combined 150-MW site, GRID said.
The company said initial notifications from NESO indicate that all projects in its development pipeline are expected to receive Gate 2 protected grid connection offers, with connection dates ranging from 2026 to 2030.
“With the signing of these latest sale and purchase agreements, we are delighted that we closed out the year having substantially completed the heavy lifting for the next phase of the Three-Year Plan,” said John Leggate, chair of Gresham House Energy Storage Fund.
“It is also gratifying that revised queue reform offers on all our projects are expected very soon and that the notifications provided to date have confirmed the protected status of the pipeline,” he added.
Ben Guest, fund manager of GRID and managing director of Gresham House Energy Transition, said the latest transactions marked another milestone in executing the strategy. “Today’s announcement is another key step in the execution of our Three-Year Plan, of which we are now one year into its implementation,” Guest said.
He added that construction across the portfolio will be staggered in line with confirmed grid connection dates, expected between January and March 2026, while early works, financing and long-lead equipment orders are already progressing.
