DIF Capital Partners (via its DIF Infrastructure VII fund) has announced a £200 million investment into Field, a London-headquartered dedicated 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 as it seeks to contribute to the renewable energy infrastructure needed to reach Net Zero.
Field’s battery energy storage systems allow energy generated during times of lower demand to be stored and released to the grid during times of higher demand.
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 or near construction in the UK: Newport in South Wales, Blackburn in Lancashire, Gerrards Cross in Buckinghamshire and Auchteraw in the Scottish Highlands.
“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,” said Gijs Voskuyl, Partner and Deputy CEO at DIF.
“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,” added Amit Gudka, CEO, Field. “Our partnership with DIF Capital Partners will enable Field to accelerate the buildout of battery storage in the UK and across Europe. And it will help us build, develop, and operate the storage we need to create a more reliable, flexible, and greener grid.”
For more news and technical articles from the global renewable industry, read the latest issue of Energy Global magazine.
The Summer 2023 issue of Energy Global hosts an array of technical articles focusing on alternative fuels, battery storage solutions, solar optimisation, and more. This issue also features a regional report on the recent developments in the European renewables market.
Read the article online at: https://www.energyglobal.com/energy-storage/25072023/dif-invest-in-uk-battery-storage-developer-field/
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