London-listed Gore Street Energy Storage Fund has energised a 10MW energy storage system.
The Lower Road battery plant in Essex is now fully operational and delivering storage and frequency services under its contract, said Gore Street.
Lower Road, which is the company’s single largest operational asset, comprises equipment supplied by NEC Energy Solutions and Nippon Koei.
Origami’s aggregator software platform is optimising the battery’s revenue streams.
Meanwhile Gore Street said during the coronavirus outbreak it is suspending work on all sites under construction from the end of this week in line with UK government direction for public safety.
The fund confirmed all operational assets continue to function “as expected and deliver a continuous source of revenue”.
“At this time, we do not believe that these suspensions will materially delay the expected operation dates due to our conservative construction schedules,” Gore Street said in a statement.
The company said two projects will commence operations in the first quarter of 2021 and two will commence operations in the third quarter of next year.
Gore Street’s operational assets require minimal human intervention, with typically no staff on site, and therefore there has been no significant impact at the current time, according to the company.
The fund said it will “keep working with all stakeholders” to ensure health and safety procedures are in place and construction programmes are “optimised”.
Gore Street Capital chief executive Alex O’Cinneide said: “At this time of uncertainty for many, Gore Street is pleased to be able to update its shareholders on further operational progress and that it currently sees no material impact from COVID-19 on its ability to continue to meet its investment objectives.
“I have dealt with a number of market and environmental disruptions during my career, and we are applying the lessons right now. I can tell you that Gore Street is operating with efficiency and is prepared to deal with external events that could impact our business.
“We provide essential services, and therefore follow government guidance and the public interest. I am pleased that across all of our active projects, operations are on target, and performing according to our expectations. In the cases where we have reduced operations according to regulations or to protect workers, such as our assets under construction, we are actively engaged and ready to resume full service at any time.”