finance

West Lothian battery storage project bought for £15.6 million



Gresham House Energy Storage Fund has acquired the Byers Brae battery project, located near Livingston, for £15.6m.

The 30MW storage site is currently the UK’s largest, after having commenced commercial operation last month.

The asset is part of the pipeline described in Gresham House Energy Storage Fund’s prospectus published last November, having been bought from Gresham House DevCo and Noriker Power.

It is expected to generate revenues primarily from asset optimisation, importing and exporting power to earn income from the wholesale market and the National Grid’s balancing mechanism.

The deal increases the total capacity of operational utility-scale battery storage projects in the fund’s portfolio to 425MW.

Ben Guest, fund manager and head of Gresham House New Energy, explained that Byers Brae adds its first operational capacity in Scotland.

“The location makes it well placed to ease system constraints arising from bottlenecks in the physical network between UK wind generation in the north and power demand in the south.

“The facility currently provides system flexibility via National Grid’s Dynamic Containment premium frequency response product.”

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