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DIF invests £200m in storage developer Field

July 26, 2023

DIF Capital Partners, via its DIF Infrastructure VII fund, has made a £200m investment in Field, a London-headquartered developer and operator of battery energy storage systems.

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.

Field is already operating its first site in the UK, a 20 MWh battery project in Oldham, Greater Manchester. It has another four sites totalling 210 MWh in construction in the UK: Newport in South Wales, Blackburn in Lancashire, Gerrards Cross in Buckinghamshire and Auchteraw in the Scottish Highlands.

Gijs Voskuyl, deputy CEO of DIF, said: “We’re very excited to make a second investment in the battery storage sector which we see as a critical component for the UK energy industry to reach Net Zero and which we see as highly complementary to DIF’s extensive renewable energy portfolio. We are looking forward to working with the Field management team.”

Amit Gudka, Field CEO, added: “We will not be able to meet net zero targets without significant investment in new energy infrastructure. Battery storage is a critical part of that infrastructure. The more we can build, the more effective mass-usage of wind and solar power will become.

DIF was advised by PwC (financial) and Herbert Smith Freehills (legal). Field was advised by Nomura Greentech (financial) and Dentons (legal adviser).

 

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