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.

Company valuations and developer premiums for project sales have come down in the UK market amidst rising financing costs and plummeting revenues.

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.

Despite macroeconomic challenges, Gore Street’s asset value surged 45% over six months as ancillary service revenues stayed strong.

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.