The Anonymous Widower

Gore Street Energy’s £60mln Fundraise Significantly Oversubscribed

The title of this post, is the same as that of this article on Proactive Investors.

Surprise! Surprise!

Well not to me! Or I suspect Which!

This article on Which is entitled Solar Panel Battery Popularity Is Booming: Should You Buy One?

I have read the article and it leaves, the overall impression, that the UK population are thinking seriously about adding batteries to their solar panels.

So if the UK population is thinking seriously about personal energy storage, it would be very surprising if professional fund managers weren’t thinking the same.

After all, I did write World’s Largest Wind Farm Attracts Huge Backing From Insurance Giant, over two years ago.

So if we’re operating and commissioning offshore wind farms like these.

We’re going to need some humungous batteries to tide us through calm periods.

As I write this post on a Monday afternoon, the UK is generating 11.5 GW of electricity by wind, which is more than we’re generating by biomass, coal and nuclear combined.

This is a quote from Alex O’Cinneide, who is Gore Street Capital’s chief executive, in the Proactive Investors article.

We are looking forward to deploying this capital against our significant global pipeline of 1.3GW and towards the capital expenditure requirements in the company’s existing 440MW portfolio.

Gore Street certainly seem to be expanding, their portfolio of batteries.

Conclusion

The City of London has discovered renewable energy and found a way to fund it, to the benefit of all investors, from the guy with a pension managed by a reputable company to global insurance companies, funds and other companies, who have billions of pounds, dollars or euros, that needs a profitable home.

The next big development will come, when a company like Gore Street goes Giga and decide to fund Gigawatt batteries being developed by the next generation of energy storage companies, like Gravitricity, Highview Power, Siemens Ganesa and Zinc8.

 

December 14, 2020 - Posted by | Energy, Energy Storage, Finance | , ,

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