Gore Street to acquire an 80MW energy storage system of Renewable Energy Systems.

Gore Street, an energy storage fund, agreed to acquire an 80MW energy storage system of Renewable Energy Systems, a renewable energy company. Financial terms were not disclosed. "We are very pleased to announce the acquisition of this exceptionally high-quality 80MW construction ready project in the UK, which adds one of the UK's largest assets planned for development to our leading portfolio of energy storage assets. At 520MW[1] this is the largest portfolio available to a financial investor and one which has the youngest portfolio of assets, and most cost-effective acquisition history in the market. This latest Project again highlights the strength of our management team in being able to identify and secure exclusivity on important infrastructure assets at extremely competitive pricing, through our active asset management approach. In fact, the Company believes that GSF's installed cost per MW is close to half that of the closest peer that we have analysed. We believe this competitive acquisition pricing is the bedrock for continuing to deliver future compelling IRR returns to our shareholders," Alex O'Cinneide, Gore Street Capital CEO.