Gore Street Energy Storage Fund will provide a Goldman Sachs subsidiary with power from its Big Rock BESS in California via a 12-year, fixed price Resource Adequacy (RA) contract.
Energy storage fund investment manager Gore Street has released its full-year results, reiterating how internationalisation helped it weather falling revenues in the UK – though not enough to maintain its dividend level.
The Gore Street Energy Storage Fund’s international diversification helped it maintain average revenues across its portfolio, which spans the Great Britain (GB), Ireland, Germany and Texas, US.
Utility and IPP Engie has commissioned a 100MW/100MWh battery energy storage system (BESS) while Gore Street has enlisted Nidec as EPC partner for a 75MW project, both in the ERCOT, Texas market.
The Gore Street Energy Storage Fund’s results for the first half of its financial year have demonstrated the benefits of its internationalisation strategy, though its net asset value (NAV) per share fell slightly.
California now has 6.6GW of battery energy storage systems (BESS) online, while Gore Street has secured US$60 million in financing for its 400MWh project in the state.
UK-based investor Gore Street Capital has identified Poland, Hungary and Austria as markets of interest in the CEE region, investment principal John-Michael Cheshire told Energy-Storage.news in a Q&A.
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.
