Anesco divests 81 MW of UK battery storage

Gore Street Energy Storage Fund (GSF) has acquired an 81 MW battery storage portfolio from Anesco for GBP29.2 million (US$37.8 million).

The agreement forms part of a wider partnership between the two companies, which will see Anesco providing ongoing operations and maintenance (O&M) and asset optimization services for the batteries. The two companies also intend for Anesco to provide full revenue optimization services for the batteries, along with other assets owned by GSF.

The 81 MW battery portfolio comprises 14 UK-based storage assets, ranging in size from 1 MW to 20 MW.

The consideration includes GBP21.1 million of cash (US$27.8 million), GBP 7.1 million (US$9.3 million) of Gore street shares, and GBP 1 million (US$1.3 million) of deferred contingent payments.