Listed energy storage fund Gore Street has acquired 19MW of battery storage projects from Origami Energy.
The fund will now develop the 9MW behind the meter project at Port of Tilbury, London, and a 10MW in front of the meter project in Brentwood, Essex. It said construction will commence in the coming weeks and the projects will be operational in Q2 2019.
Both projects have been acquired from Origami Energy, which will operate the batteries for the fund via its technology platform.
Gore Street said its revenue streams include capacity market services, which provide long term contracts for new build in front of meter batteries, Triad services and dynamic firm frequency response (FFR) via which National Grid keeps the power system stable at around 50Hz.
The fund now has 29MW of storage in its portfolio. The other two assets are a 6MW site co-located at a mine in Cleveland, North Yokshire, and a 4MW co-located site in Bridgend, Wales of which it owns 49%.
Gore Street CEO, Alex O’Cinneide, said the company is “in negotiation with potential partners for a significant number of projects under exclusivity that we look forward to funding in due course.”
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