Gore Street, London's energy storage fund supporting the transition to low carbon power, has announced that the energisation of its Drumkee project, a 50 MW installed capacity project located in Northern Ireland, is on schedule.
Drumkee is one of the largest energy storage projects in Northern Ireland and will contribute towards local climate changes goals.
Mullavilly, Gore Street's second 50 MW project located in Northern Ireland, is scheduled to be energised in December 2020. As such, both Drumkee and Mullavilly are expected to be commissioned and operational in 1Q2021. This would bring Gore Street's operational portfolio to a total installed capacity of 210 MW. Notwithstanding the COVID-19 lockdown and severe restrictions on movement, both projects’ completion dates currently remain on schedule and budget.
The DS3 contracts available for these assets underpin return profiles which are expected to exceed the company's 10% unlevered target IRR for portfolio assets.
Gore Street has partnered with Low Carbon to jointly own and operate the projects. The energisation of the Drumkee site has been achieved due to the combined efforts of Gore Street, Low Carbon SONI, Northern Ireland Electricity Networks, G2 Energy, NEC and SMA.
Read the article online at: https://www.energyglobal.com/energy-storage/27112020/irish-energy-storage-project-on-track-for-completion/