Eelpower Energy secures funds for up to 1 GWh of UK battery storage

Eelpower Ltd. joins consortium of public and private sector investors to launch new battery energy storage system (BESS) developer – Eelpower Energy. The developer is targeting final investment decisions on up to 1 GWh of capacity by the end of 2025.

From ESS News

A UK battery storage developer has secured GBP 500 million ($675 million) of public and private sector investment, creating a business spun out from grid-scale storage developer Eelpower Limited.

Eelpower Energy is expected to build, own and operate grid-scale battery storage assets and aims to deliver over 1 GW of new battery storage projects for the UK grid.

The BESS developer has been created by a consortium led by international investor Equitix, joined by Australian pension fund Aware Super and the United Kingdom’s National Wealth Fund (NWF) – a sovereign wealth fund whose sole shareholder is the UK Treasury. The NWF has committed to invest up to GBP 200 million in Eelpower Energy, according to Equitix. An Equitix spokesperson confirmed to ESS News that the investment is for UK projects only.

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