Burges Salmon’s Corporate team has advised Gresham House Devco Limited and Noriker Power Ltd on the sale of a 50MW battery storage project known as Wickham Market, located in Suffolk, to Gresham House Energy Storage Fund plc (the Fund).
The £32.75m transaction sees the Fund reach an overall fund capacity of 315MW and follows on from the sale of another 50MW battery storage project – Thurcroft, located in South Yorkshire – for £32.5m on which Burges Salmon also advised the same sellers.
Camilla Usher-Clark, Burges Salmon Corporate partner, led the team advising on both sales, with support from senior associates Peter Dunn and Briony Barber.
Camilla says: “We’re pleased to have continued our collaboration with the Gresham House New Energy team on Thurcroft and Wickham Market. Having undergone commissioning tests, the Wickham Market facility is now fully operational. It’s fantastic to be able to play a part in Gresham House’s continued success and expansion.”
Gareth Owen, Investment Director at Gresham House, says: “As always, it’s been a pleasure working with Camilla and the Burges Salmon team to bring this transaction to a successful conclusion. Thurcroft and Wickham have been significant additions to the portfolio this year, representing the largest projects to be transferred to the Fund to date, so we appreciate their continued support and expertise.”