Statkraft Signs 412MW Storage PPAs With GRID

Statkraft, a leading renewable energy company, has entered into power purchase agreements (PPAs) with Gresham House Energy Storage Fund to optimize 412 MW of operational battery energy storage system (BESS) capacity across 13 sites in the United Kingdom. Announced on July 25, 2025, these agreements include a minimum income guarantee to support the augmentation and refinancing of the assets.

The deals integrate existing PPAs into a new framework, allowing the portfolio to benefit from a stable income floor. This structure enhances financial predictability for Gresham House while enabling Statkraft to expand its UK battery optimization portfolio to over 3 GW, reinforcing its role in the country’s energy storage market.

Brian Lonn, Statkraft’s head of UK flexibility, emphasized the partnership’s value, stating: “This agreement means Statkraft can support GRID in delivering shareholder value, as well as contributing towards the decarbonisation of the GB energy system.” The collaboration aligns with efforts to advance sustainable energy solutions, supporting the UK’s transition to cleaner power for domestic consumption.

Ben Guest, fund manager at Gresham House, highlighted the innovative nature of the agreements, saying: “PPAs with minimum income guarantees are relatively new to the BESS industry... We are pleased to be expanding our relationship with Statkraft through this significant new agreement.” The income guarantee provides a financial foundation for the fund’s operations, fostering growth in the battery storage sector.

The agreements strengthen the partnership between Statkraft and Gresham House, enhancing the efficiency and reliability of the UK’s energy storage infrastructure. By optimizing battery storage capacity, the collaboration supports grid stability and the integration of renewable energy, contributing to reduced carbon emissions and a more sustainable energy landscape.

This initiative reflects the growing importance of battery storage in managing energy demand and supply, particularly as the UK expands its renewable energy capacity. The partnership positions both companies to meet the evolving needs of the energy market while supporting economic and environmental goals in the region.