Gore Street Energy Storage receives investment from Japanese oil major
The subscription from JXTG provides the basis for a long-term collaboration, the investment group said
Company
LON:GSF
Gore Street Energy Storage Fund PLC is the first UK and Ireland pure play energy storage fund, targeting a 7% yield. Building a diversified portfolio of projects, the Fund already has several operational assets in the portfolio and multiple revenue streams in place. The Fund is overseen by a highly experienced Investment Management Team, with a total of over 75 years of private equity and asset management experience. The investment team's track-record is predominantly focused on energy and infrastructure and also has successfully acquired and managed storage assets in the UK.
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The subscription from JXTG provides the basis for a long-term collaboration, the investment group said
Construction is slated to complete by December 2020 which leaves time for the projects to be completed within targeted schedules
"Energy storage assets continue to provide a critical service to the grid in maintaining its stability”
The recent £3.5mln fundraiser by the Gore Street Energy Storage Fund was notable in that it was the result of “inbound institutional interest”. In other words, the firm received an unsolicited offer of cash from the investment community tha
The growth in NAV reflects the rising interest in batteries and renewable energy to combat climate change
Hardware & electrical equipment
"This has been an exciting time for Gore Street in executing our London listing and successfully raising proceeds to meet the demand for our considerable pipeline."
Energy storage through batteries will have a key role in meeting electricity supply challenges in the UK