Gore Street acquires £22M Leicester storage project, opens new fundraising

Energy storage fund Gore Street has announced plans for a new fundraising after acquiring a 57MW construction-ready energy storage project in Leicester, bringing its UK and Ireland portfolio to 577MW operating or under construction.
The £22 million Leicester project is currently scheduled to become operational in 2023. Gore Street says it will its first transmission-connected storage, which will reduce capex and operating costs.
With current financial resources “ largely committed” following this 57MW acquisition and Gore Street is proposing a share issue of £82 million to fund its portfolio expansion plan. In total, the Company has over 1.0GW / 2.5GWh in its overall pipeline, including a 2GWh active pipeline across North America and Western Europe, of which 160MWh is currently under exclusivity.

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