The partnership
With a portfolio of more than 1.17 GW across five international grid systems, Gore Street Energy Storage Fund (GSF) is one of the UK’s leading energy storage asset owners. As part of its diversification strategy, GSF acquired its first project outside Great Britain and Ireland in March 2022, the 22 MW/29 MWh Cremzow asset in Germany. Gore Street Capital, the investment manager of GSF, required a data-driven route-to-market (RTM) provider to allow it to reach all relevant markets. With enspired able to facilitate access to wholesale trading, Frequency Containment Reserve (FCR) and automatic Frequency Restoration Reserve (aFRR), the partnership was a perfect match.
The customer
Launched in 2018, GSF is London’s first listed energy storage fund and one of the principal owners and operators of battery storage facilities in Great Britain and Ireland. GSF is the only UK-listed energy storage fund with a diversified operational portfolio located across five grid networks, having also acquired assets in Germany and the ERCOT and CAISO grid markets of the US. It is listed on the Premium Segment of the London Stock Exchange and included in the FTSE All-Share Index.
“We were in search of a data-driven and experienced partner to help us to optimally position our battery within the German market. We are happy to have found that partner in enspired."
Alicja Kowalewska-Montfort
Principal at GSF's investment manager Gore Street Capital
The use case
GSF is continuing to expand its portfolio of grid-scale energy storage from Great Britain and Ireland to other European markets and beyond. The Cremzow 22MW/29MWh battery storage system in Germany represented the first project in mainland Europe as part of this growth trajectory. As the German electricity market design and associated regulations are substantially different from GB and Ireland, the main challenge was to maintain the high asset performance already established by GSF’s operational portfolio. enspired’s route-to-market services ensure these high standards are met.
“Our in-house technology was built to process billions of asset- and country-specific data points to achieve cross-market asset optimization,” says Wolfgang Eichberger, CTO at enspired. This quantitative, fully digital approach was the missing piece in GSF’s expansion into the German market. “We were in search of a data-driven and experienced partner to help us to optimally position our battery within the German market,” comments Alicja Kowalewska-Montfort, Principal at GSF's investment manager Gore Street Capital. “We are happy to have found that partner in enspired.” The Cremzow battery will be offered on wholesale markets, FCR and aFRR to maximize both its profitability for the customer and its valuable contribution to grid stability.
The environmental edge
Leveraging energy storage in different markets allows GSF to diversify its exposure to a wide range of revenue streams while making a contribution to avoiding emissions in multiple geographic locations. In practice, this means batteries are charged when lots of renewables are in the grid and discharged when the usage of conventional power plants is to be avoided. Jürgen Mayerhofer, CEO and co-founder of enspired, stresses the importance of like-minded firms working on a common goal to make an environmental impact, saying: “We seek partners who push the boundaries and don’t shy away from taking battery optimization to the next level – that is why we love working with Gore Street Capital.”
“We seek partners who push the boundaries and don’t shy away from taking battery optimization to the next level – that is why we love working with Gore Street Capital.”
Jürgen Mayerhofer
CEO and Co-founder of enspired