Gore Street has signed a turnkey engineering, procurement and construction (EPC) contract and an operations and maintenance contract with Fluence for a 30MW grid battery project in the Republic of Ireland.
Fluence has committed to construct the Porterstown project at a fixed price by a specified completion date, to provide for performance that include back to back stringent DS3 services warranties, energy degradation and availability warranties and to operate the projects for up to 15 years.
The combination of a fixed price, stringent warranties backed by liquidated damages and a guaranteed completion date further de-risks the project, Gore Street said.
The investment fund stated there is an opportunity to potentially increase the valuation of the Porterstown project.
In-line with previous guidance, the project is on track to be commissioned in Q3 2021 as expected.
Gore Street has applied to increase the grid capacity of Porterstown and the 30MW Kilmannock project, from the collectively 60MW up to a total capacity of 180MW.
Connection works at Kilmannock continue to progress, but construction will most likely commence at a later date due to Eirgrid’s updated timeline on grid connectivity.