Gore Street Capital Achieves First Close for European Energy Storage Fund

Gore Street Capital has announced the successful first close of its European-focused GS EU Fund SCSp. Supported by major entities like the European Investment Fund and the Ireland Strategic Investment Fund, the fund aims for a final close of €500 million by year-end. The focus will be on battery energy storage projects, with 80% dedicated to EU member states. This aligns with Europe's objectives for climate neutrality by 2050 and a 55% emissions cut by 2030.

The fund benefits from decreasing battery costs and enhanced long-duration systems, leveraging the EU Sustainable Financial Disclosure Regulation for sustainable investment. Gore Street has implemented an Environmental and Social Management System to ensure ESG commitments are met.

CEO Alex O'Cinneide expressed appreciation for investor support, highlighting the fund's role in Europe's energy transition. As European markets grow, Gore Street intends to remain at the forefront of energy storage advancements.