GSF Acquires 200MW Big Rock Energy Storage Project in California
- Gore Street Energy Storage Fund (GSF) has agreed to acquire the 200MW Big Rock energy storage project in California from Avantus, with a grid connection scheduled for the second half of 2024. This acquisition will increase GSF's portfolio to 27 projects totalling 1173.2MW of operational and construction assets across the UK, Ireland, Germany the US.
What happened?
Gore Street Energy Storage Fund (GSF) has acquired the 200MW Big Rock energy storage project in California from Avantus. The construction-ready project has secured material land rights, planning consents and a grid connection scheduled for the second half of 2024. The project also has the capacity to deliver 400MWh of electricity to the grid and will be connected to CAISO, one of nine independent system operators in North America. This acquisition will increase GSF's portfolio to 27 projects totalling 1173.2MW of operational and construction assets across the UK, Ireland, Germany the US. (Source: https://www.pv-magazine.com/2021/04/27/gsf-acquires-california-energy-storage-project/)
Why does it matter?
This acquisition is significant for Gore Street Energy Storage Fund (GSF) as it will increase the company's portfolio to 27 projects totalling 1173.2MW of operational and construction assets across the UK, Ireland, Germany the US. It marks GSF's first entry into the Californian market and follows its successful entry into the energy storage markets of Texas and Germany in 2022. The project is also significant for the wider energy storage industry as it demonstrates the increasing importance of energy storage projects in the US market.
What's next?
The Big Rock project is expected to be operational in the second half of 2024 and will provide 400MWh of electricity to the grid. GSF is planning to continue its expansion into the US energy storage market and is looking for additional opportunities to invest in renewable energy projects. The company is also exploring opportunities in other key markets, such as Japan, India, and Brazil, as it continues to focus on increasing its portfolio of operational and construction assets.
