COVID-19: UK listed fund Gore Street halts all construction of new assets

By Alice Grundy
Share on linkedin
Share on twitter
Share on reddit
Share on facebook
Share on email
Image: Gore Street Energy Storage Fund.

UK stock exchange-listed dedicated energy storage fund, Gore Street Energy Storage Fund, has suspended all construction on assets currently in the works as it also announces the completion of the 10MW Lower Road project in southern England.

The 10MW front of the meter project in Essex is now fully operational and delivering storage and frequency services, Gore Street said. It is operating using Origami’s technology platform and uses NEC Energy Solutions and Nippon Koei supplied equipment and system.

However, work on four assets currently under construction is to come to a halt from the end of this week in line with government direction for public safety, it said.

This suspension of work is not expected to materially delay the expected operation dates due to the company’s “conservative construction schedules”, with the plan remaining that two projects will commence operations in Q1 2021 and two in Q3 2021.

All of its operational assets continue to function as expected, delivering a continuous source of revenue, Gore Street said. Its operational assets require minimal human intervention with no staff typically on site, therefore there is no significant impact currently.

This story first appeared on our sister site Solar Power Portal – read the full story here. 

Read Next

August 9, 2022
Onslow, Western Australia, is powered almost entirely by renewables, and the utility behind the project wants to roll out the technology.
August 8, 2022
Gravity-based energy storage company Energy Vault expects US$680 million in combined revenue over 2022 and 2023, it claimed in its recent quarterly results.
August 8, 2022
Global battery energy storage system (BESS) integrator Fluence is setting up a new contract manufacturing facility in Utah to serve the US market.
August 5, 2022
Bank CIT will be the lead arranger of financing for Swell Energy’s pipeline of behind-the-meter commercial energy storage projects in California.
August 5, 2022
E-mobility and energy storage company New HOrizons Ahead (NHOA) has started installation work on an LFP-based 100MW/200MWh battery energy storage system (BESS) in Western Australia, the state’s largest.

Most Popular

Email Newsletter