Gore Street Energy Storage Fund PLC (LSE:GSF) said its portfolio of renewable energy battery storage assets performed better than expected during the last quarter of its fiscal year.
The investment company said the portfolio is “performing strongly” on every grid in which it operates, Great Britain, Ireland, Germany, and the US and the new financial year has “started well”.
Alex O’Cinneide, chief executive of Gore Street Capital, said the investment manager was pleased to see the GB portfolio matching the same levels of revenues with other market participants with longer battery durations.
“We continue to base our strategy on current market conditions and revenue streams and therefore continue to favour one-hour battery systems for the GB market. We believe this results in substantial cost efficiencies and has significantly rewarded our shareholders.”
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