Published: 18 Mar 2021, 12:31
Gresham House’s 30MW/30MWh Byers Brae battery storage project has been energised by Greek firm MYTILINEOS.
It had been completed according to schedule despite COVID-19 restrictions, with energisation occuring through MYTILINEOS’ Renewables and Storage Development (RSD) Business Unit. Construction of the asset lasted four months, from October 2020 to the end of January 2021, with the asset located near Wester Dechmont, Livingston in West Lothian, Scotland,
Gresham House announced in December 2020 it had conditionally agreed to acquire the project from Gresham House DevCo and Noriker Power.
It is the third battery energy storage system project that the RSD Business Unit has completed during the last semester, and follows on from energisations of previous Gresham House projects including the 50MW/75MWh Wickham project and the 50MW/75MWh Thurcroft project.
In its latest results – released earlier this month – Gresham House recorded a net core income of £40.8 million and an adjusted operating profit of £12.1 million, with these being up 29% and 17% from 2019 respectively. Its assets under management also grew, increasing by 42% to £4 billion.
In February, the company unveiled the acquisition of a further 45MW of projects, bringing its operational portfolio to 395MW. These projects were a 35MW asset in North Shields, in Tyne and Wear (Port of Tyne) and a 10MW project in Essex (Nevendon).