Ireland Strategic Investment Fund Commits €75 Million to Gore Street Capital Battery Storage Fund
The Ireland Strategic Investment Fund (ISIF) has committed €75 million to Gore Street Capital's new battery storage fund, which aims to enhance Ireland's energy grid and support renewable integration. The fund plans to raise a total of €500 million by 2026, contributing to the country's net zero objectives. This investment aligns with ISIF's goal of achieving €2 billion in climate investments in the coming years.
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The Ireland Strategic Investment Fund (ISIF) has committed up to €75 million to a new fund managed by Gore Street Capital (GSC), focusing on battery energy storage projects. This fund aims to support Ireland's energy grid by enhancing renewable integration and energy security.
GSC plans to acquire greenfield battery energy storage projects, manage their construction, and operate them for the fund's 10-year duration. The fund seeks to raise a total of €500 million by the end of 2026, contributing to Ireland's net zero objectives by providing alternative grid services.
ISIF aims to achieve €2 billion in climate investments over the next few years, having surpassed its previous €1 billion target set in 2021. This commitment reflects ISIF's strategic focus on addressing climate change and supporting Ireland's transition to a net zero economy.
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