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Strategic Power Project's finance director Iain Lees and managing director Paul Carson. Image: Strategic Power Projects.
Gresham House has partnered Irish developer Strategic Power Projects to develop a solar and storage pipeline with a combined capacity of over 1GW.
These assets are to be located across Northern Ireland and the Republic of Ireland, with locations secured close to major electricity grid infrastructure hubs.
The agreement will provide Gresham House with exclusivity to acquire the utility-scale solar and battery energy storage system (BESS) assets once fully consented. Funds under the management of Gresham House are intending to own the assets for their full operational lives.
Development activities are to be undertaken by Strategic Power Projects, with the two companies to tender for construction and operational phase services once the projects are fully consented.
Strategic Power Projects has recently secured planning approval for a number of utility-scale solar PV and battery energy storage sites, one of which it claimed is to become the largest hybrid project in the country once built.
Paul Carson, managing director, Strategic Power Projects said that the partnership with Gresham House allows the company to build a "powerful combination" of funding, knowledge and experience of developing the highest quality assets.
“These are critical times for renewable energy in Ireland. The concerning uncertainty regarding energy only serves to emphasise the need for more renewables development with a particular focus on battery energy storage in providing stability to the grid," he said.
In January, Gresham House signed a deal with Anesco for the development of a 200MW PV pipeline, with the first of these projects - the 50MW Low Farm site - acquired by Gresham in August.