Weekly renewables M&A round-up (May 23-27)
May 27, 2022 17:26 CESTSeptember 20 (Renewables Now) - Gore Street Energy Storage Fund plc (LON:GSF) today said it has acquired a 57-MW energy storage project in Leicester, England, which is ready to build and is expected to come online in 2023.
The deal means the London-listed energy storage fund now has 577 MW of operating or under-construction projects in the UK and Ireland.
The Leicester energy storage system will be connected to National Grid's main transmission network and will require an estimated capex of around GBP 22 million (USD 30.4m/EUR 25.8m) over the next 12 to 18 months.
The company said its financial resources are now substantially committed and launched a placing to raise up to GBP 72.6 million for further acquisitions. It will issue shares at GBP 1.07 apiece, a discount of 7.8% to the closing price on September 17 and a premium of 5.9% to the net asset value (NAV) as at June 30.
The fund said it has an overall pipeline of investment opportunities of over 1 GW/2.5 GWh. North America and Western Europe account for 2 GWh of this and 160 MWh are under exclusivity.
(GBP 1 = USD 1.380/EUR 1.171)
Weekly renewables M&A round-up (May 23-27)
May 27, 2022 17:26 CESTDuke Energy equips Hawaii university with solar and storage
May 27, 2022 17:17 CESTUS stays atop EY renewables attractiveness index, Spain heads PPA chart
May 27, 2022 16:32 CESTSavannah Energy to develop up to 500 MW of renewables in Chad
May 27, 2022 16:08 CESTCelsia building 260 MW of solar farms in Colombia
May 27, 2022 15:51 CESTAgrana, RWA equip Austrian fruit juice concentrate plant with solar modules
May 27, 2022 15:36 CEST