Gresham House Energy Storage Fund completed the acquisition of Red Scar from Gresham House and Noriker Power for $45m.

Gresham House Energy Storage Fund, a company that owns a portfolio of utility-scale operational energy storage systems, completed the acquisition of Red Scar, a 49 megawatt battery-only project, from Gresham House, a listed specialist alternative asset manager, and Noriker Power, a developer of flexible electricity generation, for $45m. "We are delighted to conclude a further acquisition so soon after the purchase of operational facilities totalling 50MW from VLC Energy, as announced in December. We look forward to integrating all these new assets into the Fund's portfolio and adding further projects in H1 2020," John Leggate CBE, Gresham House Energy Storage Fund Chairman.