LONDON – Gresham House Energy Storage Fund plc (LSE: GRID), the United Kingdom’s largest fund investing in utility-scale battery energy storage systems (BESS), announced Thursday it has signed an agreement for the conditional acquisition of a 100-megawatt battery project in Elland, West Yorkshire.
The project, known as Elland 2, is a key component of the new project pipeline outlined in the company’s Three-Year Plan. Designed for a two-hour duration, the facility is adjacent to the operational Elland 1 site already owned by the fund, a location that offers operational synergies between the two assets.
The acquisition is conditional upon the company confirming an acceptable grid connection offer through the National Energy System Operator’s (NESO) Queue Reform process. This confirmation is anticipated by the end of March 2026.
Ben Guest, Fund Manager of Gresham House Energy Storage Fund and Managing Director of Gresham House Energy Transition, said the acquisition is a major step in the fund’s growth strategy.
“The acquisition of Elland 2 is a major step in the Three-Year Plan,” Guest said. “Elland 2 is an area we know well, having built the neighbouring Elland 1 project which energised in November 2024.”
Guest added that the fund aims to begin construction within the next few months and will procure long-lead items in the interim. Upon completion, the 100MW/200MWh project will be larger than any other in the fund’s current operational portfolio.
Gresham House Energy Storage Fund plc invests in a diversified portfolio of utility-scale BESS assets, which are critical for balancing the UK’s electricity grid and supporting the integration of renewable energy sources.