Gresham House Energy Storage Fund completes acquisition of 30 MW Byers Brae utility-scale battery storage project
Gresham House Energy Storage Fund has completed its acquisition of the 30 MW Byers Brae battery project located near Wester Dechmont, Livingston in West Lothian, Scotland, UK. The project has been acquired for a total enterprise value of GBP15.6 million (plus up to GBP0.35 million of deferred contingent consideration), about US$21.59 million.
Byers Brae is a battery-only site with a c30MW/30MW export/import capacity which commenced commercial operations in March 2021. The Project is expected to generate revenues primarily from asset optimization (whereby it imports and exports power to earn income from the wholesale market and the National Grid administered Balancing Mechanism), together with frequency response services. It is currently providing Dynamic Containment services, being a fast-acting frequency response service procured daily by National Grid, and currently remunerated at a premium to FFR.
The project was acquired from Gresham House DevCo Limited and Noriker Power Ltd.
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