Gore Street Energy Storage Fund has energised its 50MW Drumkee grid battery in Northern Ireland. Mullavilly, Gore Street’s second 50MW project in Northern Ireland, is expected to be energised in December.
Both Drumkee and Mullavilly are expected to be commissioned and operational in the first quarter of 2021, bringing Gore Street’s operational portfolio to a total installed capacity of 210MW.
The DS3 contracts available for these assets, which will provide returns for the projects, are expected to exceed the Company’s 10% unlevered target internal rate of return for portfolio assets.
Gore Street has partnered with Low Carbon to jointly own and operate the projects.
Gore Street Capital CEO Alex O’Cinneide said: “We are delighted to announce the energisation of Drumkee, the largest energy storage asset on the national electricity grid, an important milestone for local climate change goals. Both this asset and Mullavilly which remains anticipated to be energised in December, will benefit from highly attractive DS3 contracts and from a highly attractive return profile.”