Fidra Energy and Sungrow Forge 4.4GWh BESS Partnership
Deal News | Nov 18, 2024 | EIG Global Energy Partners
Fidra Energy, in partnership with Sungrow, has announced a strategic 4.4GWh energy storage agreement to bolster its plan of establishing a 10GW battery energy storage system (BESS) in the UK and Europe by 2030. The partnership will see Sungrow supply its liquid-cooled energy storage system, PowerTitan 2.0, to Fidra's UK sites, including the expansive Thorpe Marsh development in South Yorkshire and the West Burton C site in Nottinghamshire. These BESS projects are expected to significantly augment the UK's power grid resilience and assist in meeting Europe's energy transition goals. EIG Global Energy Partners, as the parent company, supports Fidra Energy's ambition. This move epitomizes a concerted effort to innovate energy solutions, marking Fidra and Sungrow as key contributors to sustainable energy infrastructure.
Sectors
- Energy Storage
- Renewable Energy
- Infrastructure
Geography
- United Kingdom – The new energy storage projects by Fidra Energy are located in the UK, including sites in South Yorkshire and Nottinghamshire.
- Europe – Fidra Energy is planning to expand its battery energy storage systems across other European markets by 2030.
- China – Sungrow, the partner company based in Hefei, China, is integral to the supply and innovation of energy storage solutions for Fidra projects.
Industry
- Energy Storage – The article discusses the strategic partnership between Fidra Energy and Sungrow focusing on energy storage systems to facilitate Europe’s energy transition.
- Renewable Energy – Fidra Energy's projects, which include large-scale battery energy storage systems, align with the broader renewable energy sector aimed at sustainable power solutions.
- Infrastructure – The development of large battery storage facilities by Fidra Energy signifies a notable infrastructure project supporting national power grids.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Fidra Energy | Target Company | Company | A European battery and energy storage platform headquartered in Edinburgh, UK, focusing on large-scale energy storage projects. |
| EIG Global Energy Partners | Private Equity Firm | Company | An institutional investor in global energy and infrastructure sectors, providing support to Fidra Energy's projects. |
| Sungrow | Supplier | Company | A global leader in renewable energy technology, providing energy storage systems for Fidra Energy’s projects. |
| Thorpe Marsh | Project Site | Other | A flagship project site in South Yorkshire set to become one of the largest battery storage sites globally. |
| West Burton C | Project Site | Other | A project site in Nottinghamshire with significant power capacity plans as part of Fidra's strategy. |