Gore Street Energy Storage Fund has reported a 192% net asset value (NAV) increase to £145m in its latest financial year results ending 31 March 2021.
NAV per share increased 6.7% to 100.9 pence, compared with 94.6 pence per share for year ending 31 March 2020.
Operational highlights for the latest financial year include increasing the portfolio of energy storage projects to 440MW compared with 189MW at the end of the previous financial year.
Gore Street is the largest operator of energy storage on the Irish grid with an estimated 66% market share and in addition Gore Street holds 10% market share of the 1GW installed capacity of energy storage on the grid in Great Britain.
Operational assets producing income increased from four to 11 projects in Great Britain and Ireland, resulting in an aggregate operational portfolio generating 210MW.
Gore Street’s further 190MW of sites under construction remain on track as per the previously announced schedule.
Other highlights include the acquisition of a new 80MW project, Stony Energy Storage Limited and
Increasing portfolio to 15 projects with a total capacity of 520MW of which 210MW is operational.
Gore Street has a pipeline of 880MW with 300MW under exclusivity, located in Great Britain, Ireland, Continental Europe and the US.