UK’s closed-end fund Gresham House Energy Storage Fund plc has announced that it closed a 57.22 million pounds ($73.6 million) procurement of its 70 megawatts (MW) seed portfolio.

Gresham House paid for five operational energy storage systems, namely Staunch in Staffordshire, Lockleaze in Bristol, Littlebrook in Kent, Rufford in Nottinghamshire and Roundponds in Wiltshire.

Gresham House Energy Storage Fund said that these assets support its targets for a dividend and total return.

The fund closed the transaction using proceeds from its $128.6 million initial public offering, conducted earlier this month.