TRIG expands energy storage footprint with Fig Power acquisition
Transactions - FEBRUARY 13, 2024

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TRIG expands energy storage footprint with Fig Power acquisition

by Kali Persall

The Renewables Infrastructure Group (TRIG) has taken ownership of Fig Power, a developer of distributed energy storage and generation assets, for £20 million ($25 million).

Fig Power was founded as a stand-alone company in 2022, following a spinout from engineering design consultancy Hydrock, with support from private equity investor BGF.

Fig Power specializes in complex sites where a multi-technology approach can unlock opportunity, create both asset and social value and reduce reliance on carbon-intensive fuels. The company has nine grid-scale projects in advanced development, totaling 400 megawatts, which are expected to reach completion from 2025 to 2033. Fig Power has a 1.7-gigawatt development pipeline across the United Kingdom.

In addition, TRIG has a portfolio of wind, solar and battery storage projects across six countries in Europe with aggregate net generating capacity of more than 2.8 gigawatts. Fig Power said joining forces with TRIG will enable it

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