Gresham House Energy Storage Fund has raised 拢120m (鈧�132m) to finance energy storage projects.

The London-listed company said it raised the capital by issuing shares at 105p each as part of its plans to issue of up to 拢260m over the next year.

John Leggate, chair of Gresham House Energy Storage Fund, said: 鈥淲e recently set out our programme to develop a further ten projects of 485MW of battery storage over the next 12-18 months.

鈥淭his very successful fundraise, our largest to date, unlocks a significant first step in the next stage of our portfolio growth as we build on our position as the leading business in this fast-growing segment of the green infrastructure space.鈥�

Ben Guest, lead fund manager and head of Gresham House New Energy, said: 鈥淲e are delighted with the outcome of the fundraise which comes at a time that the UK is helping set the pace globally for the transition to a zero-carbon future.

鈥淲ith additional renewable generation capacity comes the requirement for more energy storage to achieve a cost-effective energy transition, and our New Pipeline will help meet this need.鈥�

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