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Gresham House notes green investment by Centrica, Infrastructure Bank

20th Apr 2023 15:07

(Alliance News) - Gresham House PLC on Thursday reported an investment by Centrica PLC into one of its funds focused on clean and green energy.

Gresham House, a London-based asset manager, focused on sustainable investments, said Centrica and the UK Infrastructure Bank will put GBP140 million into the new Gresham House Secure Income Renewable Energy & Storage LP, focused on helping to transition the UK to greener energy.

The fund is invests in renewable power generation and short-duration battery energy storage facilities.

In late March, the UK Infrastructure Bank announced it planned to invest GBP75 million into the fund, with Centrica, the Windsor, England-based owner of British Gas, investing GBP65 million.

Chief Executive Officer Tony Dalwood said: "Following the recent announcement of our strong annual results, it is great to see positive momentum continue into 2023, with successful fundraising in a number of our strategies which target attractive financial returns alongside driving the sustainability agenda."

Gresham House shares were 0.3% higher at 817.50 pence each on Thursday afternoon in London, while Centrica shares were 0.3% lower at 112.95p each.

By Tom Budszus, Alliance News reporter

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