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Gresham House Energy Storage Signs 568 MW Tolling Agreement

Gresham House Energy Storage Fund plc said today it has signed a tolling agreement with a unit of renewables group Octopus Energy related to 568 MW/920 MWh of energy storage projects across the UK.

The two-year fixed-price contracts concern 14 projects and cover nearly half of GRID's 1072MW target portfolio. They will come into force gradually starting from July 1 and result in annual contracted revenues of about GBP 43 million (USD 54.8m/EUR 50.5m) during the tolling arrangement.


GRID noted in the statement that the portion of its portfolio contracted with Octopus has "a higher price than recent weak performance at the start of the year."


"The remainder of GRID's portfolio will continue to maintain exposure to merchant market pricing and the potential upside from an improving revenue environment," said Ben Guest, Fund Manager of Gresham House Energy Storage Fund plc & Managing Director of Gresham House New Energy.

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