Gore Street Capital Closes First Round of €500 Million EU Battery Storage Fund
Gore Street Capital has achieved the first close of its GS EU Fund SCSp, a new battery energy storage fund focused on Europe, with cornerstone investments from the European Investment Fund and the Ireland Strategic Investment Fund. The fund aims to raise €500 million and is preparing for an interim close, targeting final closure by year-end.
It will primarily invest in battery energy storage projects, with at least 80% of its investments in EU member states. The initiative supports Europe's climate neutrality goals by 2050 and a 55% emissions reduction target by 2030.
The fund is classified as an Article 9 fund under the EU Sustainable Finance Disclosure Regulation and incorporates biodiversity and ecosystem safeguards. This marks Gore Street's third dedicated battery storage fund, expanding its portfolio, which currently includes approximately 1.4 GW of battery assets.
