Gore Street Energy buys 200 MW battery storage project in UK

Kona Energy and Gore Street Energy Storage Fund (GSF) have reached an agreement for the sale of a 200 MW construction-ready energy storage project in North West England, UK. Kona Energy has obtained all required authorizations, including grid connection and planning consent. 

The project is adaptable enough to deploy a storage system for up to two hours. The energy storage system will save 45,000 tons of carbon dioxide per year, which is the same as taking 15,000 cars off the road. It is strategically placed near the landing site of six offshore wind farms, allowing it to participate in multiple energy markets.

The storage facility is anticipated to generate an unlevered IRR that is at least in line with GSF's desired return. The grid connection of the project is expected to be completed by Q4 of 2026.