Fidra Energy has reached financial close on Thorpe Marsh BESS – the UK’s largest battery energy storage project.
The developer has secured £1bn from EIG, National Wealth Fund, and a syndicate of international lenders.
By July 2027, Thorpe Marsh will deliver 1.4GW of capacity, enough to power 750,000 UK homes and strengthen grid reliability across the country.
Fidra chief executive Chris Elder said: “Thorpe Marsh is one of the most exciting infrastructure projects in the world and a testament to the outstanding team at Fidra and others who have supported us on this journey.”
The scheme will be located in Thorpe Marsh in Yorkshire, England. The project is being developed on 55 acres of land (pictured) that formed part of a former coal station site, and is adjacent to an existing National Grid substation.
The BESS was approved by Doncaster Council in January 2025 and is expected to boost the economy by creating jobs during the construction and operation of the facility.
It will include the supply of containers of lithium-ion based battery systems by Sungrow.
Thorpe Marsh is expected to be capable of exporting over 2 million MWh a year.
Fidra Energy secured up to £445m of new equity investment from EIG and the National Wealth Fund. In addition to this investment, it will be funded by new loan facilities of £594m from a club of international lenders.
Once completed, the 1400MW / 3100MWh project is expected to be three times larger than any other BESS project currently in operation or under construction in the UK.
Santander CIB, New End and EIG Global Energy Partners Capital Markets, LLC acted as financial advisers to EIG and Fidra Energy on the capital raise for the Fidra platform, while Watson Farley & Williams advised the consortium of banks on the £549m loan facilities.
Fidra has signed long-term offtake agreements with EDF, Octopus Energy and Statkraft for around 80% of the Thorpe Marsh project’s capacity.
Energy Secretary Ed Miliband said: “It’s fantastic to see the National Wealth Fund breathing new life into a former coal site – turning it into a cutting-edge battery hub that will power thousands of British homes and businesses with clean energy from wind and solar.
“Every battery we build boosts Britain’s energy security, reduces our exposure to fossil fuel price shocks and drives us towards clean power by 2030 – all part of our Plan for Change.”