Gore Street storage fund raising cash to speed up acquisitions

Gore Street Energy Storage Fund is set to acquire an 80MW energy storage project “ in the coming weeks” the company said, as it opened a new share issuing.

The battery storage company said it had a  development pipeline of 1.3GW of attractive accretive opportunitie . It also wants to accelerate development of its existing portfolio, including expanding its assets in the Republic of Ireland from 30MW to 90MW.

Alex O’Cinneide, CEO of Gore Street Capital, the Company’s investment manager, said: “I am delighted to announce this placing and retail offer to progress our ambitious growth plans. This follows the rapid and successful full deployment of the £60 million raised last December. This Subsequent Placing under the Placing Programme has been launched at a critical time for the development of the energy storage asset class, with increasing international regulatory support most recently with the new Dynamic Containment revenue stream that the Company is capitalising on for its operational GB portfolio

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