Gore Street Energy Storage Fund has increased its battery storage asset base in Ireland to 385MW, of which 130MW is operational.
The company has acquired the remaining 49% stakes from Low Carbon in the 90MW Porterstownasset and the 120MW Kilmannock asset which is in construction.
Additionally, the Company has exercised its option with Low Carbon to acquire a 51% stake in Mucklagh, a 75MW pre-construction energy storage project located in the Republic of Ireland.
The project has a target energisation date of 2028.
The total consideration for these transactions was settled via the issuance of 9,700,000 new Ordinary Shares in the capital of Gore Street.
Following these acquisitions, the Company’s portfolio will comprise 28 projects, with a total capacity of 1248.2MW of operational and construction assets across Great Britain, Ireland, Germany, Texas and California.