UKIB to invest £200m in Gresham & Equitix storage funds

March 31, 2023

UK Infrastructure Bank is to invest up to £200 million across two investment funds to accelerate the development and deployment of energy storage technologies.

The bank will invest £75 million on a match funding basis into the Gresham House Secure Income Renewable Energy & Storage LP (SIRES) alongside a £65 million investment from Centrica.

The bank has also committed to invest £125 million on a match-funding basis into Equitix UK Electricity Storage Fund.

The deals, which represent the bank’s first investments in the energy storage sector, “could facilitate around 1300 jobs and will unlock at least a further £200 million in match-funded private sector capital”, a statement said.