Gore Street’s Drumkee battery storage site in Ireland. Image: Gore Street.
Gore Street has completed the acquisition of a 90% stake in a 28MWh operational energy storage asset in Cremzow, Germany, as the company plans to “aggressively” pursue certain international markets.
Cremzow has been operating since 2019, providing balancing and frequency services across eight countries and eleven associated Transmission Network Operators in the European grid system. It can participate in wholesale and intraday arbitrage, presenting additional revenue stacking opportunities similar to the GB and Irish markets.
Additionally, Gore Street highlighted how the intent by the EU to diminish co-dependency on gas and other fossil fuels – which it said has been reinforced by the current Ukraine crisis – will likely further enhance the need for energy storage infrastructure.
The Cremzow site was…