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Gore Street Energy Storage Fund PLC - London-based fund investing in energy storage assets - Agrees to acquire a 200 megawatt construction-ready energy storage project from Kona Energy. The project, in the north-west of England, is said to be one of the largest battery storage projects in Europe. It is also GSE's largest acquisition to date and takes the firm's total capacity in operation and construction to 898 megawatts.
The project will connect to National Grid PLC's main transmission network. Grid connection is expected no later than the fourth quarter of 2026. The project is expected to deliver an unlevered internal rate of return at least in line with GSF's target return.
Current stock price: 112.50 pence, down 1.1% on Monday in London
12-month change: down 3.4%
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