Energy storage funds managed by UK-based Gore Street Capital and Gresham House increased their net asset value (NAV) per share in 2022, but by very different rates.

UK-listed Gore Street Energy Storage Fund has acquired its first asset in California, a 200MW/400MWh battery energy storage system project from developer Avantus.

Gore Street has acquired a portfolio of eight energy storage assets in Texas.

Gore Street has completed the acquisition of a 90% stake in a 28MWh operational energy storage asset in Cremzow, Germany.

Gore Street Energy Storage Fund, one of two stock exchange-listed investment funds in the UK dedicated to energy storage, is proposing a new issue of ordinary shares at 102 pence (US$1.41) per share to raise further capital for its development pipeline of 1.3GW.

NEC Energy Solutions has been selected by the UK’s first listed fund targeting energy storage to deliver two projects totalling 19MW, including what could be the largest behind the meter installation in the country.