Gore Street Launches European Battery Storage Fund Amid Declining Costs
Gore Street has launched a European battery storage fund aimed at leveraging declining battery costs driven by technological advancements. The firm, known for its UK-focused investments, is expanding into the European market, which is becoming increasingly attractive due to government-backed capacity procurement schemes and EU funding, particularly in Southern and Eastern Europe. Notable projects in Italy, Poland, and Belgium are expected to provide significant energy storage capabilities.
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Gore Street has launched a European battery storage fund to capitalize on declining battery costs due to technological advancements and economies of scale. The firm is known for its UK-focused Gore Street Energy Storage Fund (GSF), which has invested mainly in Great Britain and Ireland, with additional assets in Germany and Texas, including a 200MW/400MWh system in California.
The European market has become increasingly attractive for large-scale energy storage investments, supported by long-term government-backed capacity procurement schemes. Notable examples include MACSE in Italy and capacity markets in Italy, Poland, and Belgium.
Projects in these regions typically offer 4 to 8 hours of duration. Southern and Eastern European countries benefit from EU funding schemes, while the Baltics and Nordics operate under a merchant business model due to high ancillary service prices.
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