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.

This article requires Premium SubscriptionBasic (FREE) Subscription

Enjoy 12 months of exclusive analysis

  • 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

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.

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

June 27, 2025
The US Department of Energy’s (DOE’s) Office of Electricity (OE) has announced funding of up to US$15 million for three storage technologies.
June 26, 2025
Fengate Asset Management and Alpha Omega Power’s (AOP’s) 100MW/400MWh Caballero battery energy storage system (BESS) in California, has reached commercial operations.
June 26, 2025
Independent power producer (IPP) CleanCapital has acquired a 27MW solar and 25MWh battery storage portfolio across Massachusetts and California, from Pacifico Energy.
June 26, 2025
Utility Tokyo Gas has begun operating energy software and consulting group Ascend Analytics’ bid optimisation platform for its 174MW Longbow battery energy storage system (BESS) in Texas.
June 26, 2025
Update 27 June 2025: Trianel and Luxcara responded to Energy-Storage.news’ enquiries below regarding the project timelines and the Battery Park’s planned capacities.

Most Popular

Email Newsletter