Gore Street Energy Storage Fund PLC EPC Contract signed (5868E)
14 March 2022 - 6:00PM
UK Regulatory
TIDMGSF
RNS Number : 5868E
Gore Street Energy Storage Fund PLC
14 March 2022
14 March 2022
Gore Street Energy Storage Fund plc
(the "Company" or "Gore Street")
EPC Contract signed
Gore Street, London's first energy storage fund supporting the
transition to low carbon power, is pleased to announce that Nidec
ASI has been selected to be the EPC (Engineering, Procurement,
Construction) contractor for the Company's energy storage assets in
Ferrymuir (49.9MW) and Stony (79.9MW). The assets are both of one
hour duration, beginning-of-life energy storage systems. Ferrymuir
is a project located in county Fife, in Scotland, connecting to the
Scottish Power Distribution network. Stony is located in England,
close to Milton Keynes, connecting to the Western Power
Distribution grid.
The contracts include the EPC agreements and long-term service
agreements (O&M) for maintenance and operation, including
Availability and Energy Capacity warranties, as well as stringent
performance requirements to be demonstrated by Nidec ASI.
The assets are scheduled to be energised in Q4 2022 and both to
achieve Commercial Operations Date in February 2023. The assets
will operate in Dynamic Containment, FFR (firm frequency response),
wholesale and balancing mechanism trading. The assets will also be
able to participate in new services made available by National Grid
and Distribution Network Operators.
Nidec ASI is a leading company in the development of large-scale
electricity storage, offering complete customised solutions which
contribute to the development of the energy market.
Nidec ASI, thanks to its know-how, the result of over 150 years
of technological innovation and a customised approach, wishes to
actively contribute to the transition towards renewable energy,
combating climate change and air pollution generated by the
continuous increase in CO2 emissions towards a sustainable greener
future.
ENDS
The Legal Entity Identifier of the Company is
213800GPUNVGG81G4O21.
For further information:
Gore Street Capital Limited
Alex O'Cinneide / Paula Travesso / Maria Vaggione Tel: +44 (0) 20 3826 0290
Shore Capital (Joint Corporate Broker)
Anita Ghanekar / Rose Ramsden / Iain Sexton (Corporate Advisory) Tel: +44 (0) 20 7 408 4090
Fiona Conroy (Corporate Broking)
J. P. Morgan Cazenove (Joint Corporate Broker)
William Simmonds / Jérémie Birnbaum Tel: +44 (0) 20 7742
(Corporate Finance) 4000
Buchanan (Media enquiries)
Charles Ryland / Henry Wilson / George Beale Tel: +44 (0) 20
7466 5000
Email: Gorestreet@buchanan.uk.com
JTC (UK) Limited, Company Secretary Tel: +44 (0) 20 7409
0181
Notes to Editors
About Gore Street Energy Storage Fund plc
Gore Street is London's first listed energy storage fund and
seeks to provide Shareholders with a significant opportunity to
invest in a diversified portfolio of utility scale energy storage
projects. In addition to growth through exploiting its considerable
pipeline, the Company aims to deliver consistent and robust
dividend yield as income distributions to its Shareholders.
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END
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