Gore Street Energy Storage Fund PLC (LSE:GSF) told investors that the Kilmannock project, in the Republic of Ireland, has secured a significant increase in its allocated grid connection capacity.
Kilmannock is an in-construction project which will now benefit from an extra 90MW of capacity, on top of the 30MW previously granted capacity - and the company noted that the change will lower the metric for cost of construction, per MW.
Across the whole portfolio, Gore Street will now comprise over 600MW of capacity either in operation or under construction, including 310MW on the island of Ireland.
"We are very pleased with the significant capacity increase of our Kilmannock asset, which will take our total portfolio to over 600MW,” said chief executive Alex O'Cinneide.
The Gore Street chief added: “With the ever-growing number of renewable energy assets being developed and connected to grid networks, the need for energy storage projects is increasing exponentially over the coming years and we believe that Gore Street is in an excellent position to capitalise on this growing demand."
The company, meanwhile, noted that two of its operating assets in Ireland, Drumkee and Mullavilly, played a key role in preventing a black-out on the Irish transmission network on Monday 22 November when there was a sudden loss of two conventional generators.
“The delivery of this flexible infrastructure is key to enabling the Irish energy system to increase renewable generation in line with the Irish government's ambitious target, with plans to increase the proportion of renewable electricity to up to 80% by 2030 ," said Paul Sanders, head of climate at Ireland Strategic Investment Fund National Treasury Management Agency,