October 4 (Renewables Now) - Ireland's sovereign wealth fund has pledged to invest GBP 9.5 million (USD 11.7m/EUR 10.7m) in two battery storage projects developed by UK-based Gore Street Energy Storage Fund plc (LON:GSF), the latter said today.
The energy storage fund announced that the National Treasury Management Agency (NTMA) of Ireland will help it finance two 30-MW projects in Ireland that in August secured six-year contracts to deliver frequency services to domestic utility EirGrid. Those facilities, dubbed Portersdown and Kilmannock, will be installed in County Kildare and County Wexford, respectively, and are slated for commissioning by September 2021.
Following a tender process, engineering, procurement and construction (EPC) contractors on the two projects will be selected by the first quarter of next year.
Gore Street, which in May closed its GBP-30.6-million initial public offering (IPO) in London, currently has 189 MW of energy storage capacity in its portfolio. The assets are located in England, Wales, Northern Ireland and the Republic of Ireland.
(GBP 1.0 = USD 1.233/EUR 1.123)