Fidra Energy Secures 15-year Awards in Capacity Market Auction
The developer of two of the largest battery storage projects in Europe has secured ~22% of the total derated new build BESS capacity awarded contracts in this year’s T-4 Capacity Market Auction for 2028/29
12th March, Edinburgh, UK: Fidra Energy, a European battery energy storage system (BESS) platform headquartered in Edinburgh, UK, and backed by EIG, has secured awards for its new 1,400MW Thorpe Marsh project and 500MW West Burton C project in this year’s T-4 Capacity Market Auction. The provisional results were published by NESO, in its role as EMR Delivery Body yesterday, and will be confirmed by the Secretary of State later this month.
Fidra has secured fifteen (15) year awards for all of the Capacity Market Units that it entered into the auction, at its sites at Thorpe Marsh, in Yorkshire and West Burton C, in Nottinghamshire. The awards provide ~£357 million of fixed revenues for Fidra in today’s money once the sites become operational.
At 1,400 MW (3,100MWh) Thorpe Marsh is Fidra’s flagship battery energy storage site and, once operational in 2027, will be the largest battery project in the UK, three times larger than any other battery project in operation or construction. A final investment decision on Thorpe Marsh is expected to be made in the coming months.
West Burton C is a 500MW (1,100MWh) battery storage site located adjacent to West Burton B power station, and will also be operational from 2027. A final investment decision on West Burton C is expected to be made by the end of this year.
In November 2024, Fidra entered into a strategic partnership with Sungrow to provide the battery energy storage systems for both sites.
Chris Elder, Fidra Energy’s Chief Executive Officer, said: “Our flexible storage assets will play a pivotal role in supporting the grid and the transition to net zero. With the capacity to power over one million homes during peak demand our assets will play a critical role in achieving a clean power system.”
“The Capacity Market Auction is a key part of the UK’s energy market and the revenue certainties it provides give renewable generation and storage companies the confidence to invest in the UK market. Securing a record-breaking capacity market award for new build battery energy storage projects is a proud moment for us, and a testament to the strength of the UK’s BESS market.”
Walid Mouawad, Managing Director and Co-Head of Energy Transition at EIG said:
“Fidra’s success in the Capacity Market Auction is a testament to the growing role of large-scale battery storage in the UK’s energy transition. These projects will provide critical flexibility to the grid, ensuring a stable and reliable power supply as renewable generation expands. EIG is proud to support the development of these transformative assets, reinforcing our commitment to advancing the UK’s clean energy future.”
About Fidra Energy
Fidra Energy is a European battery and energy storage (BESS) platform, owned by EIG. Headquartered in Edinburgh, UK Fidra Energy’s strategy is to develop, build and operate large battery energy storage projects in the UK and major European markets.
About EIG
EIG is a leading institutional investor in the global energy and infrastructure sectors with $23.4 billion assets under management as of December 31, 2024. EIG specializes in private investments in energy and energy-related infrastructure on a global basis. During its 42-year history, EIG has committed over $49.8 billion to the energy sector through 416 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.
Fidra Energy Contact Information
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