GS EU to Enter Poland as Portfolio Expands Beyond 550 MWh
GS EU Fund SCSp (“GS EU” or “the Fund”), Gore Street’s third managed Energy Storage Fund, has agreed to enter Poland through the acquisition of a 40 MW / 160 MWh battery energy storage system (“BESS”) project. The signing marks GS EU’s first investment in Poland and provides a strategic entry point into a compelling European battery storage market.
On completion, the transaction increases GS EU’s portfolio to 550 MWh, with a further 255 MWh in advanced-stage opportunities across two EU Member States expected to be acquired before year-end. Together with the previously completed acquisitions of Kilmannock and Mucklagh in Ireland, the Fund will have committed c.€147 million across its portfolio, with visibility on a further €43 million of opportunities currently under diligence.
The transaction also represents a significant milestone for the Fund’s deployment strategy. With a target fund size of €500 million, GS EU is targeting a further close in October, expected to bring total closed commitments to c.€210 million. The Fund also continues to offer substantial co-investment opportunities alongside future acquisitions, supported by an advanced pipeline exceeding 2.3 GWh across six countries.
Supporting investment into critical green infrastructure across EU Member States, GS EU is pleased to be backed by the European Investment Fund (EIF) among its cornerstone investors, alongside other leading institutional backers.
Transaction and Market Context
The project has secured a 17-year Capacity Market contract commencing in 2030 and is designed as a four-hour battery system, providing a strong foundation of contracted revenues while maintaining exposure to ancillary services and wholesale trading opportunities. The project is scheduled to begin operations in Q1 2028.
The transaction has been signed, with completion expected in the coming weeks, subject to the satisfactory completion of certain development milestones.
Poland has emerged as a key growth market for battery storage in Europe, driven by growing renewable energy deployment, rising electricity demand and an increasing need for grid flexibility as the country transitions away from its ageing thermal generation fleet. Poland is also forecast to experience some of the strongest growth in electricity demand across Europe over the coming decade.
Alicja Kowalewska-Montfort, Managing Director at Gore Street, said:
“We are pleased to have agreed to enter the Polish market through the acquisition of a 40 MW / 160 MWh project. This represents an important milestone for the Fund and reflects our continued ability to identify attractive opportunities across Europe. Poland is the second market for the Fund, following initial acquisitions in the Republic of Ireland earlier this year.”
“Our focus now moves to the construction and successful delivery of the project, and we are already building relationships with local counterparties, including EPC and other contractors, as we continue to strengthen our presence in Poland.
Looking ahead, we see significant opportunities to expand further in Poland and Ireland, while also progressing new investments in Spain and Romania. We expect to support this growth through a combination of project financing, future fundraises and co-investment opportunities alongside our investment partners.”
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