Core Insights - Burges Salmon has advised a consortium of lenders on a £240 million refinancing package for the Gresham House Energy Storage Fund plc, which operates a 1 GW portfolio of 28 battery energy storage system assets [1][3] Group 1: Financial Details - The refinancing package amounts to £240 million, aimed at augmenting battery capacity and unlocking new revenue streams for the Gresham House Energy Storage Fund [1][2] - The fund has secured long-term floor agreements with Statkraft Markets GmbH and Markel Bermuda Ltd, covering 50% of the portfolio's total future revenues, providing protection against market volatility [3] Group 2: Operational Insights - The Gresham House Energy Storage Fund is the largest fund in the UK investing in utility-scale battery energy storage projects, owning and operating 20% of the BESS sites across the country [3] - All assets within the portfolio are strategically located across the UK and have entered operation, indicating a fully functional investment [2] Group 3: Legal and Advisory Expertise - The Burges Salmon team, led by banking and finance partner Graham Soar, provided cross-disciplinary expertise in banking, energy, utilities, and infrastructure sectors [4] - Burges Salmon has been recognized for its strong track record in large-scale energy finance transactions, ranking as the second most active law firm in clean energy mergers and acquisitions [5]