Equitix has formed a consortium with Aware Super — an Australian pension fund — and the United Kingdom’s National Wealth Fund (NWF) to invest £500 million ($674 million) in a new U.K. battery storage platform, Eelpower Energy.
The business will build, own and operate grid-scale battery storage assets and aims to deliver more than 1 gigawatt of new battery storage capacity for the U.K. grid in the coming years.
Eelpower Energy will be driven by an experienced management team with an established track record in battery storage delivery, asset management and optimization in the United Kingdom. Working with the investor consortium, Eelpower Energy has identified a portfolio of seed assets that will immediately enter construction alongside a material pipeline of high-quality, actionable project opportunities to facilitate growth of the platform over time.
“Battery storage is key to enabling the growth of abundant, low-cost renewable energy, and without this
