2024 has already proved to be a challenging year for the renewable energy infrastructure sector, with even the largest funds trading at significant discounts. This has been felt most acutely in the energy storage segment, where Great Britain’s (GB) expanding battery capacity has increased market saturation and caused revenues from ancillary services to fall to historic lows.
We are pleased to announce that Gore Street Capital and ITOCHU Corporation have been selected by the Tokyo Metropolitan Government (TMG) to launch Japan's first fund dedicated to grid-scale energy storage systems.
As a growing team of around 45 energy professionals working in Great Britain, Ireland and the US to manage a near 1.2 GW global energy storage portfolio, we believe a diverse workforce is not just essential for a more inclusive society but for advancing the clean energy transition. Gore Street Capital is, therefore, proud to sponsor the 2023 POWERful Women (PfW) Annual Conference, taking place on 15 November, in support of its aims to address the under-representation of women in the energy sector.
Representatives of GSC hosted a Capital Markets Day on 3 October for a group of over 20 analysts, investors and brokers to further elaborate on the successes of this strategy and showcase the expertise of the Investment Manager’s in-house technical team. They were welcomed to the site of what will be the fund’s newest and largest asset to date – the 80 MW Stony project – when it enters commercial operations later this year.
Diversification has always been a guiding principle of the strategy adopted by Gore Street Energy Storage Fund (GSF) and Gore Street Capital (GSC) as its Investment Manager. The fluctuations in value available within Great Britain (GB) since commissioning of GSF’s first asset in 2017 has driven GSC to lower its exposure to volatility in a single market by pursuing opportunities in other locations.
Since its beginnings in 2015, Gore Street Capital (GSC) has been dedicated to playing a material role in the low carbon energy transition. Its founding members chose energy storage to achieve this due to the technology’s inherent ability to integrate renewable generation across global energy grid systems. GSC went on to launch London’s first listed fund dedicated to the technology asset class, establishing energy storage as an investible proposition.
2023 has marked the beginning of a new long-term relationship between Gore Street Capital (GSC) and the CleanTech Challenge, a business pitch competition hosted by the London Business School (LBS) and University College London (UCL).
Gore Street was founded with the express goal of making a material impact in the deployment of renewable energy to accelerate the transition to a more sustainable world. Our investment team is constantly seeking out ever-increasing opportunities to secure projects able to deliver a sizeable benefit to the grid systems in which they operate....
Texas has become a volatile market in recent years due largely to the extreme weather events that are increasingly taking place on a regular basis due to climate change. The winter storms of February 2021, which left 246 people dead, laid bare weaknesses in the state’s grid system, operated by the Electric Reliability Council of Texas (ERCOT). Over 52 GW of capacity was lost from the grid, led by outages at gas-fired power plants, as frozen systems failed across the state.
While 2022 will undoubtedly be remembered for global geopolitical and economic instability, it also represents one of the most turbulent years for the energy sector. Russia’s invasion of Ukraine in February continues to cause international disruption to energy supplies, contributing to a cost-of-living crisis in which soaring energy bills have played a direct part.
Despite being such a young industry, the energy storage market is expected to face overwhelming demand in the coming years as electric vehicles and stationary systems surge. This places considerable pressure on the industry to establish end-of-life disposal and, more importantly, recycling capabilities.
It has become increasingly clear that the issues of climate change and social inequality are inextricably linked. As the effects of climate change accelerate, it is the poorest portions of the global population that will be most keenly and catastrophically affected.