Fidra Energy reaches financial close on 500MW West Burton C battery energy storage project
- Financial close reached for West Burton C, a 500MW (1.1GWh) battery energy storage project in Nottinghamshire representing a ~£250million investment in UK infrastructure
- Financing of £231million loan facilities secured from a club of international lenders alongside capital already committed by EIG and the National Wealth Fund
- Construction will begin in 2026, with full operations expected to commence in 2028
- Project expected to be capable of supplying electricity to around 300,000 homes during periods of peak demand
17th July 2026, Edinburgh, UK: Fidra Energy (“Fidra”), a European battery energy storage system (BESS) platform headquartered in Edinburgh and backed by EIG and the National Wealth Fund, today announces it has reached financial close on its West Burton C battery energy storage project in Nottinghamshire.
Building on the successful financing and construction of its Thorpe Marsh project in South Yorkshire, West Burton C is a 500MW/1.1GWh battery energy storage project developed by Fidra, which is located on the site of the former West Burton coal power station, adjacent to the site selected for the UK’s first prototype fusion energy plant. The project forms part of Fidra’s UK battery energy storage pipeline, which now exceeds 4GW.
Construction of West Burton C will begin later this year and is expected to become fully operational in 2028. In addition to the investment by EIG and the National Wealth Fund, the project will be funded by new loan facilities of £231 million from a club of international lenders[1]. The loan facilities comprise a term loan and ancillary facilities. Nomura Greentech and EIG acted as financial advisers to Fidra Energy on the debt raise for West Burton C.
Fidra’s main contracting partners are Sungrow, a global leader in energy storage technology, who will supply its batteries for the project and H&MV Engineering who will be the principal designer and contractor of the 400kV grid connection, electrical scheme, and for the erection and commissioning of the Sungrow battery systems.
Fidra has signed a long-term offtake agreement with Drax Group for 50% of the project’s capacity. In March 2025, the project secured a fifteen-year capacity market award from the UK Government commencing in October 2028.
Battery energy storage is expected to play a critical role in the UK’s energy transition by supporting greater integration of renewable generation into the grid, reducing curtailment, and enhancing system flexibility and resilience. The UK Government’s Clean Power 2030 Action Plan envisages between 22 and 27GW of short-duration battery storage operational by 2030.
Chris Elder, Chief Executive Officer of Fidra Energy, said:
“Today’s milestone marks another major achievement for Fidra Energy. This project is expected to deliver flexible and affordable electricity storage utilizing existing infrastructure at a site with a long history of power generation.
We are delighted to have secured the support of existing and new lenders to fund the construction of this project, one of the largest battery energy storage sites in the UK, alongside commitments from EIG and the National Wealth Fund”.
Walid Mouawad, Global Head of Energy Transition, EIG, said:
“Reaching financial close on West Burton C marks another key milestone for Fidra Energy and reflects the platform’s continued progress in developing large-scale battery storage projects in the UK. This financing demonstrates again the depth of institutional appetite for high-quality battery storage infrastructure and the sector’s role in supporting a more flexible power system.
We’re grateful to our banking partners for their continued support and partnership as Fidra Energy seeks to expand its portfolio and deliver on its growth strategy.”
Oliver Holbourn, CEO of the National Wealth Fund, said:
“We welcome this important milestone. As we highlighted in our most recent thought-leadership paper, building out the UK battery supply chain is essential to our national resilience, and storage is vital to a cleaner, more flexible electricity system. Our investment in Fidra Energy demonstrates the National Wealth Fund’s role in backing large-scale and commercially viable projects that support the UK’s clean energy ambitions while helping to crowd in private capital.”
With construction well underway at Thorpe Marsh, the announcement marks the latest milestone in Fidra Energy’s UK growth strategy, following the recent acquisition of the 1GW Enderby BESS project in Leicestershire and securing planning approval for the 1.2GW Bicker Fen project in Lincolnshire.
Notes to Editors
About Fidra Energy
Fidra Energy is a European battery and energy storage system (BESS) platform owned by EIG. Headquartered in Edinburgh, UK, Fidra Energy’s strategy is to develop, build and operate large-scale battery storage projects across the UK and other European markets.
About EIG
EIG is a leading institutional investor in the global energy and infrastructure sectors with $25.9 billion assets under management as of March 31, 2026. EIG specializes in private investments in energy and energy-related infrastructure on a global basis. During its 44-year history, EIG has committed over $53.4 billion to the energy sector through 425 projects or companies in 44 countries on six continents. EIG’s clients include many of the leading pension plans, insurance companies, endowments, foundations and sovereign wealth funds in the U.S., Asia and Europe. EIG is headquartered in Washington, D.C. with offices in Houston, London, Sydney, Rio de Janeiro, Hong Kong and Seoul. For additional information, please visit EIG’s website at www.eigpartners.com.
About the National Wealth Fund
The National Wealth Fund is the UK government’s policy bank, charged with deploying capital at scale to drive investment into the UK’s clean energy and growth industries in support of government policy. Investments must meet its triple bottom line: helping deliver the government’s growth and clean energy missions, generating a return for the taxpayer and crowding in private capital. The National Wealth Fund is based in Leeds and has £27.8 billion of finance to deploy. It has a team of investment professionals with expertise to invest across the capital structure, including loans, equity investments and guarantees. The National Wealth Fund also provides commercial and financial advisory services and market leading lending to local authorities across the UK. The Fund is wholly owned by HM Treasury but is operationally independent from government.
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[1] The club of banks comprises ABN Amro, China Minsheng Banking Corporation Ltd., London Branch, Mizuho, MUFG Bank, Ltd. and Siemens Financial Services through Siemens Bank
