5th Jan 2026 10:20
(Alliance News) - Gresham House Energy Storage Fund PLC on Monday announced the signing of sale & purchase agreements for conditional acquisitions of the Cockenzie and Monet's Garden pipeline projects.
The acquisition of the 57 megawatt Monet's Garden project in North Yorkshire, England, has been completed, the firm said, with ownership transferred to Gresham House Energy Storage (GRID).
The London-based fund, which invests in utility-scale battery energy storage systems, has also completed its purchase of the 100MW Elland 2 project in West Yorkshire. GRID signed the SPA for this acquisition in November.
It said the acquisition of Cockenzie, a 240MW project in East Lothian, Scotland, remains conditional on GRID's satisfaction that Cockenzie will receive or has "an acceptable Gate 2 connection offer from the National Energy System Operator".
GRID has received initial notifications on all of the projects in its "Three-Year Plan pipeline" from NESO, which has confirmed that all projects will receive Gate 2 protected connection offers with grid connection dates between 2026 and 2030.
The fund expects to receive all new grid connection offers in the first quarter of 2026, with the majority anticipated in January.
Having signed the two further SPAs, GRID has acquired or conditionally acquired 397MW of the 694MW, and three of the five projects, identified for the Three-Year Plan.
The Monet's Garden project is adjacent to existing 50MW operational York project and connects to the same Hull Road substation, and GRID believes the two "can be seen as a combined 107MW project with significant augmentation potential".
The same applies to Elland 2, which is is adjacent to and shares a connection point with the existing 50MW operational Elland project, "resulting in a combined 150MW project, also with significant augmentation potential".
"With the signing of these latest sale and purchase agreements, we are delighted that we closed out the year having substantially completed the heavy lifting for the next phase of the Three-Year Plan," GRID Chair John Leggate commented.
Gresham House Energy Storage Fund shares were 1.6% higher at 80.50 pence on Monday in London.
By Emma Curzon, Alliance News reporter
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