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Gore Street Energy enlists Fluence to develop its Porterstown project

Fluence has committed to construct the project at a fixed price by a specified completion date and to operate the projects for up to 15 years.

Gore Street Energy Storage Fund PLC -

Gore Street Energy Storage Fund PLC (LON:GSF) has signed a construction contract for a 30 megawatt (MW) project in Porterstown in the Republic of Ireland.

The company has executed a fixed-price turnkey engineering, procurement and construction (EPC) contract and a long-term operations and maintenance (O&M) contract with Fluence, a leading global energy storage technology and services provider. In addition, the company has applied to increase the total capacity of its two assets in its Republic of Ireland portfolio from the original 60MW to up to a total capacity of 180MW.

Gore Street believes both projects and its expected financial return will benefit from the capacity extension.

"Securing this EPC contract is another major step forward for our portfolio of Irish assets, and directly supports the energy security ambitions on the island of Ireland, where energy storage could have a considerable role to play given the fantastic intermittent wind resources available,” said Alex O’Cinneide, the chief executive officer of Gore Street Capital.

“The potential to further increase the MW capacity of both Porterstown and Kilmannock, is an exciting development for the company, and points to the incredible focus on asset optimisation by the Gore Street team,” he added.

Quick facts: Gore Street Energy Storage Fund PLC

Price: 105.5 GBX

LSE:GSF
Market: LSE
Market Cap: £81.42 m
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