Texas and Ireland offset GB/Germany revenue falls for Gore Street

LinkedIn
Twitter
Reddit
Facebook
Email

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.

Total revenue grew 5% to £41.4 million (US$53 million) for the 12 months to 31 March, 2024, for the Fund, which trades on the London Stock Exchange under the GSF ticker.

Its operational capacity grew 45% to 421.4MW at the end of the period, while the average weighted revenue per MW per year across markets was £133,000. However, as shown in the table below, the picture was very different across its markets.

Market saturation and falling revenues in GB have been well-documented while a similar thing has been happening in Germany.

This article requires Premium SubscriptionBasic (FREE) Subscription

Enjoy 12 months of exclusive analysis

Not ready to commit yet?
  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Annual digital subscription to the PV Tech Power journal
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

The Texas market, managed by grid operator ERCOT, meanwhile has proved highly lucrative particularly during Summer 2023 and is a hotbed of BESS deployment activity – though market saturation is reportedly starting there too.

High wind penetration in Ireland meanwhile has led to spikes in Day-Ahead and Intra-Day prices as well as increased revenues from ancillary service DS3 (Delivering a Secure Sustainable Electricity System) as well as a jump in SNSP (System Non-Synchronous Penetration).

The company will enter its fifth market with the energisation of a 400MWh BESS project in California, the world’s largest BESS market, later this year.

Energy-Storage.news’ publisher Solar Media is currently hosting the final day of the Renewable Energy Revenues Summit on 21-23 May 2024 in London. The event has explored PPA structuring, revenue risk management strategies, renewable energy certificates, and much more. For more information, go to the website.

Read Next

October 14, 2025
IPP Eolian has closed a US$463 million financing package to support the continued construction of Padua 2 and Padua 3, two battery energy storage systems (BESS) totalling 350MW/1.7GWh in Bexar County, Texas.
Premium
October 14, 2025
We catch up with the CFO and co-founder of German BESS own-operate platform Terra One, after its €150 million (US$173 million) mezzanine financing to scale up in Europe’s hottest energy storage market.
October 13, 2025
Residential energy storage startup Base Power has raised US$1 billion in Series C financing from venture capital fund Addition.
Premium
October 13, 2025
A total of 49.4GW/136.5GWh of grid-scale BESS came online in the first nine months of the year, up 36% compared to the same period in 2024.
October 10, 2025
BESS asset management in the UK has moved beyond the rudimentary ‘project delivery and basic O&M’ approach, a speaker at the upcoming Battery Asset Management Summit UK & Ireland explained in a Q&A.

Most Popular

Email Newsletter