Gore Street Energy Storage Fund (GSF) has agreed to acquire the 200MW Big Rock energy storage project in California from Avantus.
The construction-ready project has secured material land rights, planning consents and a grid connection scheduled for the second half of 2024.
Commercial operations will commence shortly thereafter as a battery supply contract for all cells for the two-hour duration site, and engineering procurement and integration contracts have been secured.
Big Rock has the capacity to deliver 400MWh of electricity to the grid.
This acquisition will increase GSF’s portfolio to 27 projects totalling 1173.2MW of operational and construction assets across the UK, Ireland, Germany and the US.
The project will be connected to CAISO, one of nine independent system operators in North America.
Patrick Cox, Chair of the GSF Board, commented: “We are delighted to announce this landmark international acquisition for the company. This is our first acquisition in the Californian market and follows a successful entry into the energy storage markets of Texas and Germany in 2022.
“With this acquisition, the company is now diversified across five high-growth grids, underpinning our push into international markets, where we continue to see attractive new investment opportunities in line with our target returns.”