EIG, an institutional investor in the global energy and infrastructure sectors, has launched Fidra Energy, a new platform focused on battery energy storage (BESS), based in Edinburgh, the UK.
Fidra Energy is working on three significant battery storage initiatives in the UK, with ambitions to create a 10GW platform across the UK and other European regions by 2030.
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The flagship project, Thorpe Marsh, will be a 1.45GW facility in South Yorkshire, set to become the largest battery storage site in Europe and among the largest worldwide.
Construction of the Thorpe Marsh facility is due to commence in 2025.
Upon completion, it is expected to supply enough energy to power around 800,000 homes during peak demand periods – making it ten-times larger than the UK’s largest existing BESS project.
In addition to Thorpe Marsh, Fidra Energy’s project line-up includes Bicker Fen 1&2 in the East Midlands, contributing 1.2GW, and West Burton C in Nottinghamshire, adding 500MW.
EIG managing director and global energy transition co-head Walid Mouawad said: “As renewable energy sources increase alongside rising electricity demand, we believe battery projects will be essential in supporting the deployment of intermittent renewable energy generation.
“We are excited to work with Chris and the team at Fidra Energy as they seek to advance Europe’s energy transition.”
Together, these initiatives are projected to fulfill more than 5% of the UK’s peak electricity requirements.
Fidra Energy CEO Chris Elder said: “Battery storage is a proven, cost-effective and flexible technology that will be critical for Europe’s energy transition.
“Our strategy is focused on delivering big batteries to major markets through the development of large transmission-connected projects that secure economies of scale.
“By leveraging our team’s extensive experience in developing, building and operating large power projects, we are well positioned to capture this significant market opportunity.”
