BESS developer Fidra Energy has secured £1 billion (US$1.35 billion) in financing for what would be the largest such project in the UK, while EDF and Elements Green have agreed a toll for a 720MWh system.
Fidra Energy
Battery energy storage system (BESS) developer Fidra Energy has announced it has received up to £445 million in new equity investment, plus debt, to fund the Thorpe Marsh BESS.
Funding comes from institutional investor EIG, which launched Fidra Energy in October of last year, and the UK’s National Wealth Fund (NWF). With this, Fidra Energy has reached financial close on its Thorpe Marsh BESS project, located in Doncaster, South Yorkshire.
The Thorpe Marsh BESS is a 1.4GW/3.1GWh project which, once completed, will be the UK’s largest BESS and one of the largest in Europe. Construction is set to begin imminently, and the site is expected to be operational from mid-2027.
Try Premium for just $1
- Full premium access for the first month at only $1
- Converts to an annual rate after 30 days unless cancelled
- Cancel anytime during the trial period
Premium Benefits
- Expert industry analysis and interviews
- Digital access to PV Tech Power journal
- Exclusive event discounts
Or get the full Premium subscription right away
Or continue reading this article for free
See the original version of this article on Solar Power Portal.
EDF inks long-term optimisation deal for 720MWh Staythorpe BESS
Energy supplier EDF has agreed a long-term optimisation deal with Elements Green for an upcoming BESS development.
Under the agreement, EDF will optimise the 360MW/720MWh Staythorpe BESS, at which construction began in Nottinghamshire last month.
Optimisation and operational services for the storage system will be run through EDF’s Powershift platform, and EDF’s Wholesale Market Services team will guarantee minimum returns from grid balancing services. The project is also the recipient of a 15-year capacity market contract.
The Staythorpe BESS, which received planning consent in June of last year, is expected to be fully commissioned in mid-2027. In February of this year, Elements Green announced that it had partnered with Mitie-owned firm G2 Energy for the design and construction needs of the site, in a deal worth £71.5 million.
See the original version of this article on Solar Power Portal.
