Gresham House Energy Storage Fund PLC wrapped up its previously announced acquisition of a 49-MW battery storage project at Red Scar Business Park in Lancashire, England, for approximately £32.8 million.

The project was purchased from a vehicle owned by developers Gresham House DevCo Ltd. and Noriker Power Ltd.

The transaction raises the capacity of Gresham House Energy Storage Fund's battery storage portfolio to 174 MW.

The fund said it expects to acquire three other projects — two 50-MW facilities and the 5-MW Littlebrook extension — in the coming months, upon the facilities' commissioning. This will increase its operational portfolio to 279 MW.