Gore Street Capital secures Polish battery project after shareholder vote

Gore Street Capital has acquired a 40-megawatt, 160-megawatt-hour battery energy storage system project in Poland, a move that signals a strategic continuation of its investment plans following the defeat of a shareholder revolt. The acquisition of the Wolborz project marks a significant step for the firm, which manages the GS EU fund, as it seeks to reinforce its position in the European energy storage market. The deal fee for the transaction remains undisclosed, but the acquisition is viewed as a decisive response to recent internal challenges regarding the company’s direction and performance.

The Wolborz site is designed to supply four hours of capacity and is scheduled for commissioning during the first quarter of 2028. It secures a 17-year Capacity Market contract commencing in 2030, providing long-term revenue stability. This addition to the portfolio follows a period of intense scrutiny from major shareholder Saba, which had criticised the board and management team. Saba’s objections were primarily driven by declines in net asset value, despite the fund’s expanding battery storage portfolio across the United Kingdom and Europe, which currently totals approximately 643 megawatts and 840 megawatt-hours. The proposed vote to change the company’s strategic direction was ultimately defeated, allowing Gore Street Capital to proceed with its ventures in the battery storage sector without interruption.

Poland has emerged as a focal point for battery storage development this week, with Greenvolt and Statkraft also finalising a significant agreement in the region. The two firms signed a 10-year tolling agreement covering a combined 400 megawatts of battery storage capacity. The deal encompasses two sites, Elk and Turosn Koscielna, each with a capacity of 200 megawatts and 800 megawatt-hours, providing four hours of storage. Under the terms of the agreement, Statkraft retains the right to determine when the batteries charge and discharge. In return, Greenvolt secures an additional source of predictable, long-term revenue. This partnership is described as the largest battery storage transaction signed in Poland to date, complementing Statkraft’s existing portfolio of third-party wind and solar assets.

Kornel Koronowski, head of origination for Statkraft in Poland, stated that the partnership demonstrates the company’s ambition in the country. He noted that the projects support Poland’s energy transition and allow Statkraft to offer competitive and stable prices to energy-intensive off-takers. The collaboration between the developer and producer is considered a fruitful tag team, reinforcing their presence in Central Europe. Meanwhile, Centrica has raised concerns about the impact of grid queues on infrastructure investment. The company warned that projects stuck in the queue, some waiting up to a decade for connection, are holding back millions in investment. Centrica highlighted that securing reliable power is becoming a growing challenge, particularly with the acceleration of data centres in the United Kingdom. The firm argued that policymakers and industry leaders must adopt a collaborative approach, combining long-term grid investment with deployable technologies to meet growing power needs.

In international developments, EnerVenue has secured its first multi-megawatt-hour commercial order in China. The company will supply 26 Energy Prism containerised storage units, with a combined capacity of 11 megawatt-hours, to an oilfield in northern China. The order was placed by a major Chinese oil and gas producer for one of its established production sites. The system is designed to store electricity generated by an on-site solar array and supply it back to the operation, shifting daytime solar output into hours when the site draws power. The first three units are scheduled to ship in December 2026, with the remaining 23 following in March 2027. The units are built from EnerVenue’s fourth-generation Aqueous Metal Cell and are delivered as complete containerised systems ready for connection to the site’s power conversion equipment. This project follows the company’s first Aqueous Metal Cell installation, a 150 kilowatt-hour system integrating renewable generation with electric bus charging, which has been operating at Jintan in Changzhou since November 2025.