ENERGY STORAGE

A to Z of key players driving UK storage deployment in 2024

Your guide to the organisations expected to be at the forefront of UK energy storage installations in the next 12 months

BEN COOK

January 25, 2024

  • UK battery storage capacity predicted to reach 24GW by 2030
  • Which organisations will be at the forefront of UK energy storage deployment?
  • Tamarindo’s Energy Storage Report brings you a run-down of the key players

Battery storage capacity in the UK is set to surge between now and the end of the decade. A study published last year showed that capacity would increase more than ten-fold from 2.1GW to 24GW during the period 2023 to 2030. Huge amounts of capital will be deployed in the sector, with forecasts indicating up to $20 billion will be invested in UK storage over the period in question. If these planned investments come to fruition, it is predicted that the UK will have sufficient combined energy reserves to power 18 million homes for a year, research has shown.

But which organisations will be at the forefront of UK energy storage deployment in the coming year? Here, Tamarindo’s Energy Storage Report brings you the A to Z of key players driving UK storage deployment in 2024. Why have these organisations been included in the A to Z? Each has made high-profile progress on storage deployment in the last year, whether developing projects, financing them, or developing the technology that will power them. As a result, these companies are expected to play key roles in the drive to install UK storage capacity in the next 12 months:


AMP ENERGY
In January 2022, Amp Energy revealed plans for what it described as Europe’s “two biggest battery storage facilities” in central Scotland. The 800 MW battery portfolio, called the ‘Scottish Green Battery Complex’, will comprise two 400MW battery facilities – in Hunterston and Kincardine – and provide 800MWh of energy storage capacity. The company said the portfolio is due to be operational in April 2024. Overall, Amp owns more than 40 “flexible generation assets and battery storage sites” across the UK.
Key figure: Paul Ezekiel, co-founder and chief investment officer


ANESCO

Anesco has connected storage capacity totalling 150MW across 33 sites, while in December 2022, it was announced that the company had entered into an agreement to optimise 15MW of UK operational battery storage capacity for Gresham House, one of the biggest players in the UK storage market.
Key figure: Hildagarde McCarville, CEO

Hildagarde McCarville (Anesco)


ATLANTIC GREEN
Atlantic Green secured £16.5 million in financing from Goldman Sachs for its 60MWh battery storage project in Buxton, UK. The project is scheduled to be energised in the first quarter of this year. In May last year, the company acquired it third battery energy storage project, a 260MWh scheme at an unnamed location in the UK.
Key figure: Nick Bradford, managing director


AURA POWER
Earlier this month, planning permission was granted for Aura Power’s 100MW / 400MWh battery storage project in Capenhurst in Cheshire, which followed the granting of planning permission for three other projects in the UK in 2023.
Key figure: Simon Coulson, CEO


BANKS RENEWABLES
In October last year, Canadian investment giant Brookfield paid $1bn to buy UK developer Banks Renewables from Banks Group for its second Brookfield Global Transition Fund. The company has also said it will invest more than £100 million into developing Pond Energy Park, which will include a 200MW battery storage project to be located on the site of an industrial park near Bathgate in Scotland. In June last year, Banks submitted a proposal to add 40MW of battery storage capacity to a consented solar energy scheme to Leeds City Council for review – Banks secured planning approval in 2021 for the proposed Barnsdale Solar Energy Park between Kippax and Allerton Bywater that would be able to generate enough electricity to meet the annual requirements of up to 12,000 family homes.
Key figure: Richard Dunkley, managing director


BW ESS
BW ESS, along with Penso Power, signed an agreement with Sungrow – in November last year – for the delivery of a battery energy storage system for a 100MW / 330MWh energy storage project located in Bramley, Hampshire, the UK.
Key figure: Erik Strømsø is the CEO of BW ESS


CAMBRIDGE POWER
Highlights for the company in the last year included securing planning permission for a 60MW battery energy storage system at Redcote Lane, Leeds, as well as getting the green light for a 100MW UK battery energy storage system facility in Staploe, Bedfordshire, adjoining the Eaton Socon grid substation. In July last year, Cambridge Power was also given planning permission for a 50MW battery energy storage system in Lemington, Newcastle Upon Tyne. Meanwhile, in January 2023 the company was also granted planning permission for a 50MW battery energy storage system (BESS) in Flag Fen, Peterborough.
Key figure: Giles Hanglin, CEO

Giles Hanglin (Cambridge Power)


CANADIAN SOLAR
Last month, it was announced that Canadian Solar subsidiary E-STORAGE will deliver 226 MWh DC of turnkey energy storage systems to Engie for two projects in Scotland. E-STORAGE will construct the two projects, each with a capacity of 56.5 MW / 113 MWh DC in Cathkin and Broxburn.
Key figure: Colin Parkin, president of E-STORAGE

 

CARLTON POWER
Last summer, UK energy infrastructure development company Carlton Power secured planning permission for what it said was the “world’s largest battery energy storage scheme”, a 1040MW / 2080MWh project located at the Trafford Low Carbon Energy Park in Greater Manchester. Planning permission for the £750 million scheme was granted by Trafford Council, the local planning authority.
Key figure: Keith Clarke, founder


CENTRICA
In October last year, it was announced that Gresham House Secure Income Renewable Energy & Storage LP (SIRES) had been jointly backed by a £65 million cornerstone investment by Centrica and the UK Infrastructure Bank (UKIB) which confirmed a £75 million commitment on a match-funding basis as part of its overall £200 million support for energy storage funds. Earlier in the year, Centrica secured the development rights to a 65MW two-hour battery storage plant in Perthshire, Scotland, its largest battery storage acquisition to date. Last year also saw Centrica acquire the four-acre former Knapton Generating Station in North Yorkshire in the UK from Third Energy with a view to developing a 28MW battery on the site.
Key figure: Gregory McKenna, managing director at Centrica Business Solutions


CLEARSTONE ENERGY
The company has 1.8GW of solar and battery projects in active development. In May last year, it sold two battery energy storage system (BESS) projects in southern England to Foresight Energy Infrastructure Partners: Sundon BESS, a 49.5MW project north of London that will connect with National Grid’s Energy Park initiative; and Warley BESS, a 57MW project in Essex. Both sites have grid connection dates in 2024.
Key figures: Ben Pratt and Justin Kilduff, founders


CONRAD ENERGY
It was announced last year that structured finance provider Close Brothers Leasing had provided an £85million funding facility to Conrad Energy that will fund eight battery storage sites across the UK.
Key figure: Steven Hardman, CEO


CONSTANTINE ENERGY STORAGE
Alberta Investment Management Corporation (AIMCo) and Railpen jointly acquired a 94 per cent stake in Constantine Energy Storage (CES) in 2022. CES, which describes itself as a “grid-scale battery energy storage platform supporting the energy transition”, has said it will invest more than £400 million to build out a pipeline of battery energy storage projects in the UK. In March last year, Sungrow agreed a deal to supply CES with its liquid-cooled battery energy storage system – Sungrow and CES are working on a pipeline of storage projects totalling 825MWh of capacity spread across five sites in the UK.
Key figures: Louis Burford, operations director & Mike Ryan, commercial director


COPENHAGEN INFRASTRUCTURE PARTNERS
Copenhagen Infrastructure Partners (CIP) through its ‘flagship funds’ took a final investment decision last month and began construction on a 500 MW / 1,000 MWh energy storage system in Coalburn, Scotland. The facility is the first project to be developed from the partnership between CIP and Alcemi to with a view to deploying 4 GW of energy storage assets across the UK. CIP aims to take final investment decisions on two other projects this year with a combined capacity of more than 1GW. Meanwhile, in February last year, CIP, on behalf of its Flagship Funds, entered into a partnership with Amberside Energy with a view to developing 2GW of solar and battery storage projects in the UK.
Key figures: CIP is majority owned by the four senior partners: Jakob Baruël Poulsen, Torsten Lodberg Smed, Christina Grumstrup Sørensen and Christian Skakkebæk

Christina Grumstrup Sørensen (Copenhagen Infrastructure Partners)


DIF CAPITAL PARTNERS
It was revealed in July last year that DIF Capital Partners, via its DIF Infrastructure VII fund, had made a £200m investment in Field, a London-headquartered developer and operator of battery energy storage systems. In the same month, in what has been described as the UK’s first solar-plus-storage off-take agreement, ENGIE signed a 10-year hybrid power purchase agreement (PPA) with DIF Capital Partners and ib vogt for a co-located 55MW solar and a 40MW / 80 MWh battery storage system in Leighton Buzzard in Bedfordshire in the UK.
Key figure: Gijs Voskuyl, partner and deputy CEO


DRAX
In July last year, renewable energy company Drax Group secured development consent from the Scottish Government for its plans to build a £500 million underground pumped storage hydro plant at its existing Cruachan facility in Argyll, Scotland.
Key figure: Will Gardiner, CEO


EDF
EDF Renewables UK won planning approval – in September last year – for a 57MW grid-scale battery in Braintree, Essex. The project is expected to begin construction in early 2024, with the aim of being operational in early 2025. Also in September, EDF was given the go-ahead to develop a 114MW battery energy storage system on land north of Hickling Lane, Swainsthorpe, near Norwich in the UK.
Key figure: Simone Sullivan, head of storage at EDF Renewables UK


EDP RENEWABLES
Earlier this month, EDP Renewables acquired the 50MW Balnacraig battery storage project, located near Alness in the Scottish Highlands, from clean energy developer Intelligent Land Investments Group.
Key figure: Carmen Caminero, UK country manager


EELPOWER
In April last year, SUSI-Eelpower, a joint venture between SUSI Partners and Eelpower dedicated to deploying large-scale battery energy storage assets in the UK, brought online the largest standalone operational battery storage in Scotland – the battery, located in Dundee, has a capacity of 50MW.
Key figure: Mark Simon, CEO

Mark Simon (Eelpower)

 

ELEMENTS GREEN
The company is consulting on plans for Great North Road (GNR) Solar Park, a 800MW solar and energy storage park located to the northwest of Newark-on-Trent, Nottinghamshire in the UK.
Key figure: Mark Noone, head of UK development


EKU ENERGY
Energy storage developer Eku Energy is building two UK battery storage projects – with a combined capacity of 130MWh – in Basildon, Essex and Loudwater, Buckinghamshire. Both projects are expected to be commercially operational by the end of 2024.
Key figure: Sandra Grauers Nilsson, CEO

Sandra Grauers Nilsson (Eku Energy)


ENGIE
Last month, it was revealed that Canadian Solar subsidiary E-STORAGE will deliver 226 MWh DC of turnkey energy storage systems to Engie for two projects in Cathkin and Broxburn in Scotland each with a capacity of 56.5 MW / 113 MWh DC. Meanwhile, in July last year, in what was described as the UK’s first solar-plus-storage off-take agreement, Engie signed a 10-year hybrid power purchase agreement (PPA) with DIF Capital Partners and ib vogt for a co-located 55MW solar and a 40MW / 80 MWh battery storage system in Leighton Buzzard in Bedfordshire in the UK.
Key figure: Aidan Connolly, head of Engie battery storage UK


ETHICAL POWER
In April last year, the development business of Public Power Solutions (PPS), which includes a 250MW pipeline of large-scale UK solar PV and battery energy storage co-located projects, was acquired by Ethical Power.
Key figure: Thomas Kneen, CEO and founder


EXAGEN
Exagen was granted planning permission for a 500MW / 1GWh grid-scale battery energy storage project on land to the northeast of Earl Shilton, Leicestershire earlier this month.
Key figure: Jeremy Littman, CEO


FIELD ENERGY
DIF Capital Partners, via its DIF Infrastructure VII fund, made a £200m investment in Field, a London-headquartered developer and operator of battery energy storage systems, in July last year. The investment will allow Field to accelerate the development and buildout of its 4.5 GWh pipeline of grid-scale battery energy storage projects in the UK and Western Europe.
Key figure: Amit Gudka, CEO

Amit Gudka (Field Energy)


FLUENCE
In September last year, UK-based battery energy storage asset owner and operator Varco Energy chose Fluence Energy UK Ltd., a subsidiary of Fluence Energy, Inc. to provide one of its first battery-based energy storage systems in the UK – the 57 MW / 137.5 MWh project, named Sizing John, will be deployed at a substation in Rainhill, south of St Helens in Merseyside. In the same month, Statkraft chose Fluence Energy UK to deliver its first battery-based energy storage project connected directly to the transmission network – the energy storage system will be installed at Neilston Greener Grid Park in Renfrewshire, Scotland.
Key figure: Brian Perusse, managing director, Fluence Energy UK


GORE STREET ENERGY STORAGE FUND
A UK-listed energy storage fund, Gore Street has ten operating storage assets in the UK with three in the construction/pre-construction phase. Recent UK developments included Gore Street Energy Storage Fund selecting EDF as its trading and optimisation partner for the 80MW Stony battery energy storage system in Milton Keynes. Two months previously it was revealed that Gore Street Gore Street Energy Storage Fund had upsized its existing revolving credit facility with Santander from £15 million to £50 million to support the development of its construction portfolio.
Key figure: Alex O’Cinneide, CEO and founder

Alex O’Cinneide (Gore Street Capital)


GRAVITRICITY
Gravitricity is the developer of ‘GraviStore’, a gravity energy storage system that stores energy by raises and lowers heavy weights in underground shafts. Last month, ABB signed an agreement with Gravitricity to explore how “hoist expertise and technologies” can accelerate the development and implementation of gravity energy storage systems in former mines. Meanwhile, Gravitricity last year appointed corporate finance specialists Gneiss Energy to spearhead a £40 million funding drive with the goal of building three demonstrator projects in the next five years.
Key figure: Martin Wright, executive chairman


GRESHAM HOUSE ENERGY STORAGE FUND

US Investment firm Searchlight Capital agreed a £469.8 million deal – in July last year -to acquire Gresham House, the UK asset manager which has a portfolio that includes Gresham House Energy Storage Fund’s utility-scale energy storage systems. Operational capacity of Gresham House’s storage portfolio increased further to 640MW in July with the commissioning of the Grendon project (50MW/100MWh), the fund’s largest asset to date. In October last year, Gresham House Secure Income Renewable Energy & Storage LP (SIRES) was jointly backed by a £65 million cornerstone investment by Centrica and the UK Infrastructure Bank (UKIB) which confirmed its £75 million commitment on a match-funding basis as part of its overall £200 million support for energy storage funds. Also last year, CATL and Gresham House Energy Storage Holdings entered into a long-term agreement for the supply of up to 7.5 GWh of battery energy storage systems.
Key figure: Ben Guest, managing director, new energy

Ben Guest (Gresham House)


HABITAT ENERGY
In June last year, Habitat Energy, an optimiser of battery storage and renewable energy assets, activated four UK batteries totalling 100MWh – in partnership with Pulse Clean Energy – as part of an innovative diesel-to-battery conversion programme. The batteries are located at Briton Ferry and Tir John in South Wales, Willoughby in Warwickshire and Flatworth in the North East of England. In the same month, Habitat Energy signed a framework agreement with UK investor Gresham House Energy Storage Fund, which extended their battery optimisation partnership to more than 500MW.
Key figure: Andrew Luers, CEO

 

HARMONY ENERGY LIMITED
In January this year, Harmony Energy Limited (HEL) secured planning permission for the 100MW / 200MWh Keady BESS in Scunthorpe, North Lincolnshire. Meanwhile, earlier this month, the company energised the 49MW / 98MWh Jamesfield BESS, a joint venture with TagEnergy which is located near Abernethy, Scotland – the battery system uses Tesla Megapacks. In addition, the 99MW / 198MWh Clay Tye Farm project in Essex – a joint venture with FRV also using Tesla Megapacks – was recently energised. HEL is a privately owned developer which supplies Harmony Energy Income Trust plc (HEIT) with shovel-ready BESS sites. HEIT has right of first refusal over the first 1GW HEL secures. HEL has already supplied HEIT with 500MW/1GWh of BESS sites.
Key figure: Peter Kavanagh, CEO


HARMONY ENERGY INCOME TRUST
BP signed an agreement with battery storage investment company Harmony Energy Income Trust (HEIT) in September last year to provide physical power trading and optimisation services to two UK battery energy storage projects totalling 80MW / 160MWh, which are expected to come online in the first half of 2024. In the same month, HEIT completed the sale of its “shovel-ready” 99MW Rye Common battery energy storage development project in Farnham, Surrey in the UK to Pulse Clean Energy. Prior to that, Envision Energy entered a strategic partnership HEIT to provide battery energy storage systems (BESS) for HEIT’s power plants in Wormald Green and Hawthorn Pit in the UK.
Key figure: Paul Mason, managing director


HIGHVIEW POWER
Highview Power and Ørsted recently completed a joint investigation into how combining the technologies of liquid air energy storage (LAES) and offshore wind could unlock greater value for investors and consumers. In a statement, the companies said the results “show that there is value to combining offshore wind with LAES to support reducing wind curtailment, increasing productivity, and helping the move to a more flexible, resilient zero carbon grid.” The companies added that they believe a project can be developed and built aligned with the timeline of an offshore wind farm.
Key figure: Richard Butland, CEO


ILI GROUP
Intelligent Land Investments (ILI) Group has worked on 21 battery storage projects across Scotland, with 750MW in pre-planning, 1.15GW in planning, 530MW consented and 400MW funded. Earlier this month, Statkraft agreed a deal to acquire the 450MW Red John Pumped Storage Hydro Scheme – located near Inverness, Scotland – from ILI. It was also announced this month that EDP Renewables has acquired the 50MW Balnacraig battery storage project, located near Alness in the Scottish Highlands, from ILI.
Key figure: Mark Wilson, CEO

Mark Wilson (ILI Group)


INNOVA
Earlier this month, Innova secured planning permission for the 940MW / 1,880MWh Heysham Energy Storage project in Lancashire. Meanwhile, in November last year, Innova agreed a debt facility of up to £40 million to support the company’s growth in the UK solar and energy storage system (ESS) market. In addition, in April 2023, Schroders Greencoat LLP and Innova entered into a strategic partnership to construct and operate solar energy generation and battery storage projects across the UK. Under the terms of the deal, Innova and funds managed by Schroders Greencoat established ISG Renewables – the partnership aims to finance and develop 5GW of renewable energy capacity over the next three to five years.
Key figures: Andrew Kaye & Robin Dummett, co-founders and joint CEOs


MASDAR
Masdar committed to invest £1 billion in UK battery storage following its acquisition of London-based Arlington Energy in October 2022. In May last year, Masdar signed a framework agreement to licence Octopus Energy’s technology platform Kraken for the management of its UK battery storage portfolio.
Key figure: Mathew Clare, Masdar Arlington Energy CEO


NEXTENERGY SOLAR FUND
The fund published an ‘Energy Storage Strategy’ last year in which it said it was finalising the construction of a 50MWh battery in Scotland, and preparing the construction of a 250MWh battery in Norfolk. It also said it “intends to expand its energy storage activities and is consulting with shareholders to amend its existing investment policy to increase the limit in standalone energy storage systems (not ancillary to or co-located with solar PV assets owned by the company) from 10 per cent up to 25 per cent of the gross asset value”.
Key figure: Ross Grier, managing director, UK NextEnergy Capital

Ross Grier (NextEnergy Solar Fund)


OCTOPUS
In October last year, it was revealed that Octopus Renewables Infrastructure Trust (ORIT) is to invest up to £2m to set up and fund a new development business focused on creating new ground-mounted solar PV and co-located battery storage assets in the UK. Earlier in 2023, it emerged that Masdar had signed a framework agreement to licence Octopus Energy’s technology platform Kraken for the management of its UK battery storage portfolio.
Key figure: Phil Austin, chairman, Octopus Renewables Infrastructure Trust


PACIFIC GREEN
Pacific Green reached financial close on a £120 million (US$146 million) senior debt facility for the 249 MW / 373.5 MWh Sheaf Energy Park battery energy storage system in Kent in November last year. The facility was provided by a two-bank syndicate, with Natwest and UK Infrastructure Bank Limited (UKIB) contributing £60 million (US$73 million) each. Pacific Green’s subsidiary Sheaf Energy entered into an agreement with SSE Energy Supply wherein SSE will provide trading and optimisation services for the Sheaf Energy Park storage system. Last month, a 100MW / 100MWh battery developed by Pacific Green at Richborough Energy Park in Kent 100MW/100MWh battery began commercial operation after being connected to the grid.
Key figure: Scott Poulter, CEO


PENSO POWER
Penso Power secured full planning approval for a 100MW connection capacity battery storage development at Bramley in Hampshire, 12 miles south of Reading in April last year. Penso Power, along with BW ESS, signed a project agreement with Sungrow that will see Sungrow deliver the battery energy storage system for the 330MWh project.
Key figure: Richard Thwaites, CEO


PULSE CLEAN ENERGY
Back in May last year, Pulse secured a three-year £175 million credit facility with a syndicate of banks – including Santander, UK Infrastructure Bank (UKIB), CIBC and Investec – to finance the development of energy storage projects across the UK. Meanwhile, in September last year, Pulse Clean Energy acquired the “shovel-ready” 99MW Rye Common battery energy storage development project in Farnham, Surrey from Harmony Energy Income Trust (HEIT). In June last year, Pulse – along with Habitat Energy, an optimiser of battery storage and renewable energy assets – activated four UK batteries totalling 100MWh as part of an innovative diesel-to-battery conversion programme. Elsewhere, in March last year, Pulse acquired 72MW of battery assets in Manchester, UK which will come online in 2024.
Key figure: Trevor Wills, CEO

Trevor Wills (Pulse Clean Energy)


QUINBROOK
In October last year, energy infrastructure investment manager Quinbrook Infrastructure Partners reached a £620 million final close of the UK-focused Quinbrook Renewables Impact Fund (QRIF), which is anchored by the UK’s largest solar and battery storage project, Cleve Hill in Kent, which consists of 373MW of solar and 150MW of battery storage. Meanwhile, in November, CATL and Quinbrook signed a global framework agreement for stationary storage with the aim of deploying more than 10GWh of CATL’s storage systems over the next five years. The long-term partnership covers the design, optimisation, and supply of CATL storage systems to Quinbrook’s large scale renewables infrastructure projects and those of its portfolio companies operating in the UK, US, and Australia.
Key figures: Mark Burrows, managing director, head of capital formation in Europe


RENEWABLE CONNECTIONS
UK solar and battery developer Renewable Connections and project partner European Energy UKsold two co-located solar and battery storage projects based in Scotland – one at Strathruddie Farm and one at Montreathmont Moor – with an aggregate combined capacity of 121MWdc (67MWac) in April last year. Meanwhile, in June, Renewable Connections was granted planning approval by Fife Council for the 42MW Balbougie battery energy storage system near Inverkeithing in Scotland.
Key figure: Helen Robinson, group technical director


RENEWABLE POWER CAPITAL
Last month, Renewable Power Capital (RPC) and Elmya Energy entered into a joint venture to develop 4GW of BESS and co-located solar PV assets in the UK. Meanwhile, in June last year, RPC and Greenfield closed an agreement to develop at least 500MW of battery storage capacity in the UK. As part of the deal, RPC has acquired two initial projects from Greenfield with an expected combined capacity of 83MW. These projects are forecast to be fully permitted by the second quarter of 2024.
Key figure: Kevin Devlin, CEO


RES

In March last year, renewable energy company RES submitted a planning application to South Ayrshire Council for a 49.9MW energy storage project on land north-east of Holmston roundabout, near Ayr in South Ayrshire, Scotland. Meanwhile, in January 2023, RES signed two new asset management agreements: one with TagEnergy for the 49MW / 98MWh Jamesfield Farm standalone battery energy storage system near Abernethy, Scotland; and one with Thrive Renewables for the 20MW/30MWh battery storage project on Feeder Road in Bristol.
Key figure: Darren Cook, asset management director


RHEENERGISE
Mercia Power Response, a provider of flexible power response services to the UK grid, signed an agreement with RheEnergise in August last year to explore the potential deployment of long-duration hydro-energy storage in the UK. Mercia and RheEnergise will work together to identify suitable sites for ‘High-Density Hydro’ (HD Hydro) projects, a statement said. The two companies’ initial focus will be the feasibility of getting 100MW of HD Hydro in commercial operation by 2030 by utilising Mercia’s existing grid connections, the statement added.
Key figure: Stephen Crosher CEO


SSE RENEWABLES
SSE Renewables took a final investment decision (FID) earlier this month to commence construction of a 150MW / 300 MWh battery energy storage system (BESS) project in Warrington, Cheshire, at the site of the former Fiddler’s Ferry coal-fired power station. It followed an FID in November last year to proceed with the construction of a 320MW / 640MWh grid-scale battery in Monk Fryston in Yorkshire. In May last year, SSE entered into contracts to build a 150MW battery energy storage system (BESS) on the site of the company’s former Ferrybridge coal-fired power station in West Yorkshire.
Key figure: Richard Cave-Bigley, director of solar & battery

Richard Cave-Bigley (SSE Renewables)


STATERA
It was announced in November last year that Statera Energy, the UK-based energy storage developer and operator, had secured up to £300 million of debt financing through a syndicate led by Lloyds Bank. The first £144 million phase of the financing will be used to deliver Statera’s 300MW / 600MWh Thurrock battery energy storage system. The balance of the financing will fund the development of a 270MW flexible generation plant which secured a capacity market contract early this year.
Key figure: Tom Vernon, CEO


STATKRAFT
Earlier this month, Statkraft agreed a deal to acquire the 450MW Red John Pumped Storage Hydro Scheme – located near Inverness, Scotland – from Intelligent Land Investments Group (ILI). Meanwhile, back in September last year, Statkraft chose Fluence Energy UK Ltd, a subsidiary of Fluence Energy, Inc., to deliver its first battery-based energy storage project connected directly to the transmission network. The energy storage system will be installed at Neilston Greener Grid Park in Renfrewshire, Scotland. Unlike other operational energy storage systems in the UK, Statkraft’ss project will be able to provide inertia and short-circuit power to the grid to keep it stable, a statement said.
Key figure: Kevin O’Donovan senior vice president and managing director of UK and Ireland


SUNGROW
Sungrow signed a project agreement with Penso Power and BW ESS – in November last year that will see Sungrow deliver the battery energy storage system for a 100MW / 330MWh energy storage project located in Bramley, Hampshire, the UK. Earlier in the year Sungrow agreed a deal to supply Constantine Energy Storage (CES), a grid-scale battery energy storage platform, with its liquid-cooled battery energy storage system.
Key figure: Dr. James Li, director of ESS Europe


TAGENERGY
TagEnergy secured a debt package of up to £70 million in October last year to finance the 100MW / 200MWh Lakeside battery energy storage system project in North Yorkshire. The non-recourse debt package was provided by lenders Santander, Rabobank, and Triple Point on a fully merchant basis (except for capacity market revenues). Meanwhile, TagEnergy reached financial close on the 49.9MW/100MWh Roaring Hill development in Fife, Scotland in 2023.
Key figure: Franck Woitiez, CEO


TATA SONS
Tata Sons is to build a 40GW battery cell gigafactory in the UK, it was announced last year. The £4 billion plant will produce electric mobility and renewable energy storage solutions for customers in UK and Europe. Jaguar Land Rover and Tata Motors will be anchor customers, with supplies beginning in 2026, a statement said.
Key figure: Natarajan Chandrasekaran, chairman


TESLA
TagEnergy secured a debt package to finance a 100MW/200MWh battery storage facility in North Yorkshire in October last year and announced Tesla as one of the project partners. In the same month, a Tesla battery said to be the “joint largest in Europe” was switched on when the 198MWh Harmony Energy Income Trust ‘Bumpers Battery Energy Storage System’ in Buckinghamshire was “successfully energised”.
Key figure: Tim Findlay, regional director, UK, Ireland & Middle East


UK INFRASTRUCTURE BANK
Last year, UK Infrastructure Bank announced it is to invest up to £200 million across two investment funds to accelerate the development and deployment of energy storage technologies. The bank will invest £75 million on a match funding basis into the Gresham House Secure Income Renewable Energy & Storage LP (SIRES) alongside a £65 million investment from Centrica.
Key figure: John Flint, CEO

John Flint (UK Infrastructure Bank)


VARCO ENERGY
In September last year, Varco Energy secured £58 million of debt financing facilities with NatWest to help fund its pipeline of battery energy storage systems. In the same month, Varco Energy selected Fluence Energy UK Ltd., a subsidiary of Fluence Energy, Inc. to provide one of its first battery-based energy storage systems in the UK – the 57 MW / 137.5 MWh project, named Sizing John, will be deployed at a substation in Rainhill, south of St Helens in Merseyside.
Key figure: James Mills, director, Varco Energy


WÄRTSILÄ
In May last year, Wärtsilä signed a repeat order with EDF Renewables UK to deliver a 57 MW/114 MWh grid-scale energy storage system in Bramford, the UK. In addition, Wärtsilä is working with EDF on three additional projects under construction in Birmingham, Coventry, and Sundon.
Key figure: Håkan Agnevall, president & CEO


ZENOBĒ
Battery storage system provider Zenobē announced in September last year that it had secured an investment of around £600 million from investment firm KKR. In addition, a further investment of around £270 million was made by existing shareholder Infracapital. Earlier in 2023, in what is described at the time as the “largest project finance facility for battery storage projects to be arranged in Europe”, Zenobē secured a £235 million long-term debt facility to fund two grid-scale, transmission connected battery storage assets totalling 400 MW / 800 MWh in Scotland. The facility was structured by NatWest as sole debt advisor, and the financing was provided by Canadian Imperial Bank of Commerce, Rabobank, Santander UK, Siemens Financial Services through Siemens Bank, and NatWest.
Key figures: Founders James Basden, Nicholas Beatty and Steven Meersman.