Gore Street Energy Storage Fund will now oversee the construction of the assets, expected to commence in October and be operational in Q2 2019. The projects include a 9MW ‘behind the meter’ battery at London’s Port of Tilbury industrial port facility and a 10MW ‘front of the meter’ in Brentwood, Essex.
For both projects, Origami Energy has completed project feasibility studies and all development to date, including technical specification, procurement activities, grid access rights and obtaining revenue contracts for capacity market and frequency response.
GSF is London’s first listed energy storage fund and seeks to provide shareholders with a significant opportunity to invest in a diversified portfolio of utility scale energy storage projects.
Alex O’Cinneide, CEO of GSC said, “We launched Gore Street Energy Storage Fund because we see considerable opportunities in developing high quality energy storage projects and linking these projects to energy markets. Origami Energy’s intelligent technology platform will enable us to achieve this.”