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Gore Street Energy's Alex O'Cinneide sees strong growth and returns for storage as an asset class

Gore Street Energy Storage's (LON:GSF) Alex O'Cinneide says the decline in lithium-ion batteries and growth in renewables bodes well for the continued growth for energy storage as an asset class.

''Our increasing use of renewable energy is exactly why we have a need for energy storage'', he says.

''What we've seen over the last few years is continued decommissioning of coal, gas and nuclear and the rise of renewables ... all of those things require energy storage to function correctly''.

He adds that their own portfolio has grown exponentially - now standing at over 200 MW.

''All through this terrible crisis there was never a question that electricity was unstable ... our storage assets are a small part of that .. but importantly they are a part of it'', he says.

''They're providing a critical service and at no time did we lose service, so we're very proud of that performance''.

Quick facts: Gore Street Energy Storage Fund PLC

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Price: 110 GBX

Market Cap: £303.85 m

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