World’s First Energy Storage Fund to List in London

Jeremy Hodges & Anna Hirtenstein for Bloomberg Markets:  Gore Street Capital plans a London listing for the world’s first energy storage fund.

The London-based private-equity firm is seeking to raise 100 million pounds ($139 million) from the initial public offering expected later this month on the London Stock Exchange. The fund will invest in large-scale batteries.

The increase of renewable supplies at a time when policymakers are looking to phase out fossil-fuel generation threaten to leave grid operators short of power when the wind isn’t blowing or the sun doesn’t shine. Battery storage can help solve those challenges, according to Alex O’Cinneide, Gore Street’s chief executive officer.

“We have first-mover advantage, investing in a high yielding asset class for which there is an increasing need,” he said in an interview in London. “We expect that energy storage will increasingly be required to play an important role.”  Full Article:

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