EIG launches Fidra Energy with 3.15 GW pipeline of BESS projects
Published by Jessica Casey,
Editor
Energy Global,
EIG, a leading institutional investor in the global energy and infrastructure sectors, has announced the launch of Fidra Energy, a European battery and energy storage (BESS) platform headquartered in Edinburgh, the UK. Fidra Energy is developing three of the largest battery energy storage sites in the UK, aiming to establish a 10 GW platform across the UK and other European markets by 2030.
The largest project in Fidra’s portfolio is Thorpe Marsh, a 1.45 GW site in South Yorkshire, which will be the largest battery storage site in Europe and one of largest globally. Construction of the site, which is 10 times larger than the UK’s largest operational BESS project, is targeted to begin in 2025 and, upon completion, is expected to have enough capacity to power up to 800 000 homes during peak hours of electricity demand.
Fidra Energy’s additional projects include Bicker Fen 1&2, a 1.2 GW site in the East Midlands, and West Burton C, a 500 MW site in Nottinghamshire. Together, these three projects are expected to generate enough electricity to meet over 5% of the UK’s peak demand.
Chris Elder, Fidra Energy’s CEO, said: “Battery storage is a proven, cost-effective and flexible technology that will be critical for Europe’s energy transition. Our strategy is focused on delivering big batteries to major markets through the de-velopment of large transmission-connected projects that secure economies of scale. By leveraging our team’s extensive experience in developing, building, and operating large power projects, we are well positioned to capture this significant market opportunity.”
Walid Mouawad, Managing Director & Global Co-Head of Energy Transition at EIG, added: “As renewable energy sources increase alongside rising electricity demand, we believe battery projects will be essential in supporting the deployment of intermittent renewable energy generation. We are excited to work with Chris and the team at Fidra Energy as they seek to advance Europe’s energy transition.”
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Read the article online at: https://www.energyglobal.com/energy-storage/08102024/eig-launches-fidra-energy-with-315-gw-pipeline-of-bess-projects/
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