The European Investment Fund and the Ireland Strategic Investment Fund have made cornerstone commitments to Gore Street Capital’s (GSC) European energy storage fund.
GSC said GS EU Fund, its third battery energy storage (BESS) fund, which recently held its first close, expects to raise a total of €500m at its final close by the end of 2026.
The energy storage manager said the first close was also backed by a range of institutional, strategic and family office entities, without disclosing the initial amount raised.
GSC said the fund will focus on acquiring, constructing, and managing battery energy storage projects with 80% minimum target exposure to European Union member states.
Alex O’Cinneide, Gore Street Capital CEO, said: ”We are very pleased to announce the first close of the GS EU Fund and would like to thank our first close investors, including leading institutions, sovereign wealth funds, family offices, and large strategics.
“We are pleased to have strong support from returning investors and are excited to welcome new investors to the GSC platform. GS EU marks our 3rd dedicated BESS fund, building on our global expertise and track record across the US, European and Asian markets to advance energy storage as a cornerstone of the EU’s energy transition.
“The European market is entering a period of significant growth, and we look forward to continuing to play a leading role in shaping its future.”
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