Energymagz
No Result
View All Result
Friday, December 8, 2023
  • Login
  • Home
  • News
    • Solar
    • Wind Energy
    • Hydropower
    • Hydrogen
    • Geothermal
    • Bioenergy
    • Ocean Energy
    • Energy Storage
    • Grid
  • Region
    • Europe
    • North America
    • Asia
    • Africa
    • Middle East
    • Australia & Oceania
    • Latin America
  • Politics
  • Finance
  • Technology
  • Peoples
  • Study
  • Events
  • Jobs
Subscribe Now
Energymagz
  • Home
  • News
    • Solar
    • Wind Energy
    • Hydropower
    • Hydrogen
    • Geothermal
    • Bioenergy
    • Ocean Energy
    • Energy Storage
    • Grid
  • Region
    • Europe
    • North America
    • Asia
    • Africa
    • Middle East
    • Australia & Oceania
    • Latin America
  • Politics
  • Finance
  • Technology
  • Peoples
  • Study
  • Events
  • Jobs
No Result
View All Result
Energymagz
No Result
View All Result
Home Energy Storage

Gresham House and UK Infrastructure Bank Join Forces to Drive Renewable Energy and Storage Investments in the UK

Partnership aims to accelerate the connection of renewables and short-duration energy storage projects to the National Grid for a greener future

by Philip Brooks
October 26, 2023
in Energy Storage
Reading Time: 2 mins read
A A
0
Gresham House and UK Infrastructure Bank Join Forces to Drive Renewable Energy and Storage Investments in the UK

Credit: Gresham House

153
SHARES
1.9k
VIEWS
Share on FacebookShare on Twitter

Gresham House and the UK Infrastructure Bank (UKIB) have solidified their partnership, first announced in March of this year, to bolster investments in renewable energy and storage projects across the United Kingdom.

Their joint endeavor, the Gresham House Secure Income Renewable Energy & Storage LP (SIRES), has received a significant boost with a cornerstone investment of £65 million from Centrica, coupled with a £75 million commitment from the UKIB. The latter contribution aligns with the UKIB's broader commitment of £200 million to support energy storage funds.

See Also

Voltalia Sells 420MW Solar Project in Brazil to Newave Energia

Voltalia Secures Majority Stake in 60MW Mosselbanken Solar Plant in the Netherlands

December 8, 2023
Leeward Renewable Energy and Southern California Edison Sign 15-Year Power Purchase Agreement for Antelope Valley Battery

Bluefield Renewable Developments Gains Approval for 49.9-MW Solar Farm and 60-MW Battery Storage in Northumberland

December 8, 2023
UK Government Reiterates Commitment to Decarbonization Goals in Response to CCC Report

KKR & Co to Acquire Smart Metering Systems in GBP 1.4 Billion Deal

December 8, 2023
Cubico Sustainable Investments Achieves Milestone with 135-MW Solar Farm in Mississippi

Cubico Sustainable Investments Achieves Milestone with 135-MW Solar Farm in Mississippi

December 8, 2023

SIRES has a laser focus on developing co-located renewable energy generation and short-duration electricity storage facilities. The primary goal is to expedite the integration of these technologies into the National Grid, accomplishing this at a lower cost by sharing grid connection points.

The innovative approach of developing these technologies side by side ensures that excess renewable energy, generated during periods of ample supply, is not wasted. Instead, it is stored for use during times of heightened demand.

For investors, the concept of collocation brings a plethora of benefits. It opens the door to more extensive and diverse revenue streams when compared to single-technology sites. These include income derived from power purchase agreements for renewable projects and optimization contracts with trading entities for battery storage.

The strategy has already proven its efficacy with the 100% owned seed asset, a co-located solar and battery energy storage project located in Hartlepool, County Durham. This pioneering project boasts 50MW of solar capacity and an impressive 75MWh of battery energy storage, with construction recently underway.

Gresham House is not stopping there; the firm is actively exploring a substantial pipeline of other projects where this new capital can be deployed.

Peter Bolton, Investment Director, New Energy at Gresham House, expressed his enthusiasm for the venture, saying, “With 21 operational storage projects and over 13 years of experience in renewable investing, we are excited to see Gresham House Secure Income Renewable Energy & Storage LP flourish. The UK is still in need of substantial renewable energy capacity to support its transition away from fossil fuels, and battery storage stands out as the only commercially viable technology capable of storing excess renewable power, ultimately balancing supply and demand.”

In an era where environmental sustainability is paramount, this partnership between Gresham House and the UK Infrastructure Bank represents a significant stride toward a greener future for the United Kingdom.

Tags: electricityEnergy StorageGresham HouseinfrastructureNational Gridpower purchase agreementUK

Related Posts

Leeward Renewable Energy and Southern California Edison Sign 15-Year Power Purchase Agreement for Antelope Valley Battery
Energy Storage

Bluefield Renewable Developments Gains Approval for 49.9-MW Solar Farm and 60-MW Battery Storage in Northumberland

by David Martinez
December 8, 2023
GenusPlus Group Secures AUD 90 Million Contract for Key Role in Western Australia’s Kwinana Battery Stage Two Project
Energy Storage

GenusPlus Group Secures AUD 90 Million Contract for Key Role in Western Australia’s Kwinana Battery Stage Two Project

by Stanley Shelton
November 30, 2023
Modo Energy Secures USD 15 Million in Series A Funding for Global Expansion
Energy Storage

Modo Energy Secures USD 15 Million in Series A Funding for Global Expansion

by Don Padilla
November 30, 2023
Fluence Energy Secures $400 Million Loan to Advance Global Growth Plans
Energy Storage

Fluence Energy Secures $400 Million Loan to Advance Global Growth Plans

by Teri Wright
November 28, 2023
  • Trending
  • Comments
  • Latest
Dutch Offshore Wind Farms Stop Turbines to Allow Safe Passage for Migrating Birds

U.S. Federal Council Greenlights $1.5 Billion Offshore Wind Farm in Rhode Island

December 8, 2023
Masdar and Verbund Green Hydrogen Sign Pact for Green Hydrogen Plant in Central Spain

Masdar and Verbund Green Hydrogen Sign Pact for Green Hydrogen Plant in Central Spain

December 7, 2023
Emirates Steel Arkan, Ohmium International, and Khalifa University Collaborate to Advance Green Hydrogen in Steelmaking

Emirates Steel Arkan, Ohmium International, and Khalifa University Collaborate to Advance Green Hydrogen in Steelmaking

December 7, 2023
Solarvest Holdings Secures 11 Rooftop Solar Projects in Vietnam with 12.8MWp Capacity

GoldenPeaks Capital Secures Financing for 72MW Solar Portfolio in Poland

December 7, 2023
UK and Germany Forge Energy and Climate Partnership to Advance Net Zero Goals

Renewable Energy Surges in Germany, Accounting for 60.2% of Q3 2023 Power Generation

December 8, 2023
Voltalia Sells 420MW Solar Project in Brazil to Newave Energia

Voltalia Secures Majority Stake in 60MW Mosselbanken Solar Plant in the Netherlands

December 8, 2023
Leeward Renewable Energy and Southern California Edison Sign 15-Year Power Purchase Agreement for Antelope Valley Battery

Bluefield Renewable Developments Gains Approval for 49.9-MW Solar Farm and 60-MW Battery Storage in Northumberland

December 8, 2023
Endangered Macaw vs. Green Energy Dilemma: Wind Farm Project in Brazil Faces Controversy

Patria Investimentos to Acquire 600 MW Wind Power Assets from ContourGlobal in Brazil

December 8, 2023

Newsletter

Categories

  • Bioenergy
  • Energy Storage
  • Finance
  • Geothermal
  • Grid
  • Hydrogen
  • Hydropower
  • News
  • Ocean Energy
  • Peoples
  • Politics
  • Smart Energy
  • Solar
  • Study
  • Technology
  • Wind Energy

Site Navigation

  • Home
  • About Us
  • Privacy Policy
  • Cookie Policy
  • Advertising
  • Subscription plans
  • Contact
Energymagz

Welcome to EnergyMagz, where we strive to provide the latest and most accurate information about the ever-changing world of clean energy. Our team of passionate writers and researchers is dedicated to covering all aspects of renewable energy, including solar, wind, hydro, geothermal, and more.

© 2023 By EnergyMagz

No Result
View All Result
  • Home
  • News
    • Solar
    • Wind Energy
    • Hydropower
    • Hydrogen
    • Geothermal
    • Bioenergy
    • Ocean Energy
    • Energy Storage
    • Grid
  • Region
    • Europe
    • North America
    • Asia
    • Africa
    • Middle East
    • Australia & Oceania
    • Latin America
  • Politics
  • Finance
  • Technology
  • Peoples
  • Study
  • Events
  • Jobs

© 2023 By EnergyMagz

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In