Gore Street Enters the Polish Market. Fund Acquires a 160 MWh Energy Storage Project

British fund manager Gore Street Capital, through its managed vehicle GS EU Fund SCSp, has acquired a 40 MW / 160 MWh energy storage project in Poland. This is the fund’s first investment in the country.

Debut on the Polish Market

Gore Street Capital announced on Thursday that the transaction marks GS EU’s first investment in the Polish market. The company did not disclose the financial terms of the agreement. Closing is expected in the coming weeks.

The project, named Wolborz, benefits from a 17-year capacity market contract starting in 2030. The energy storage facility is scheduled to become operational in the first quarter of 2028. The system will provide four hours of energy storage and deliver ancillary services to the Polish power market.

The process of selecting an EPC contractor and other subcontractors is currently underway.

GS EU Fund Expands Its European Portfolio

GS EU, a fund targeting €500 million in total commitments, reached its first financial close in January. A further closing is scheduled for October and is expected to bring in an additional €210 million.

The transaction in Poland follows shortly after GS EU acquired two ready-to-build BESS projects in Ireland with a combined power capacity of 195 MW and energy capacity of 390 MWh. With the new investment, the fund’s total portfolio will increase to 550 MWh. The organisation also has an additional 255 MWh of projects at an advanced stage of development across two European Union countries.

Alicja Kowalewska-Montford, Managing Director at Gore Street, said the fund sees significant opportunities for further expansion in Poland and Ireland. At the same time, the company plans to develop new investments in Spain and Romania.