We’re thrilled to announce that Centrica is investing £65m in the Gresham House Secure Income Renewable Energy & Storage (SIReS) fund, helping to accelerate Europe’s path to net zero whilst providing consumers with clean, green, and resilient electricity supplies.
Alongside Centrica’s investment, UK Infrastructure Bank has pledged another £75m investment on a matching fund basis, which forms part of UKIB’s aggregate commitment of over £200m to support the UK’s transition to cleaner and greener energy and net zero commitment by 2050.
The fund will focus on linking renewable generation and short-duration electricity storage assets through collocation. Centrica acts a cornerstone investor, providing £65m to secure construction of the fund’s inaugural asset – a collocated solar and battery energy storage site with 50MWp solar capacity and 75MWh of battery energy storage.
Centrica’s Energy Marketing & Trading division will seek to provide route-to-market services for the assets in the fund once they become operational, delivering power to wholesale, balancing, and merchant power markets.
See the full release here.
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