Gresham House Energy Storage thinks new services being brought to market by National Grid could enable battery storage to go mainstream.
The fund now has 215MW of operational batteries on the books and is set to hit 350MW by the year-end. The firm said it could easily double its current portfolio in the next 18 months.
Posting half year results, the company said all of its available assets had capitalised on the £2,242MWh system price on 4 March, when prices soared on the back of low wind. The firm reiterated that the UK market needs 10GW of storage within five years to balance renewable generation.
Gresham House plc (LON:GHE) is a London Stock Exchange quoted specialist alternative asset manager offering funds, direct investment and tailored investment solutions, including co-investment, in public equity, private assets, forestry, new energy and housing.