Fidra Energy Secures Record Capacity Market Award for UK BESS Projects
Deal News | Mar 12, 2025 | EIG Global Energy Partners
Fidra Energy, a European battery energy storage system platform headquartered in Edinburgh, UK, has secured 15-year capacity market awards for its Thorpe Marsh and West Burton C projects in the UK's T-4 Capacity Market Auction. Supported by EIG Global Energy Partners, Fidra's 1,400MW Thorpe Marsh and 500MW West Burton C projects will become operational in 2027. The awards, set to deliver approximately £350 million in fixed revenues once operational, underscore the growing significance of large-scale battery storage in the UK's energy transition to a net-zero power system. Fidra Energy's projects are poised to provide critical grid flexibility and reliable power supply as renewable energy generation expands. The successful bid in the capacity market marks a significant milestone for Fidra and highlights EIG's commitment to advancing clean energy investments.
Sectors
- Renewable Energy
- Private Equity
- Energy Transition
Geography
- United Kingdom – Both Fidra Energy and its significant projects are based in the UK, and the country's energy market regulations and auctions are central to the article.
- United States – EIG Global Energy Partners is headquartered in Washington, D.C., and plays a role as the financial backer in the energy infrastructure investments.
- Europe – EIG and Fidra Energy have broader operations and strategic focuses in major European markets beyond just the UK.
Industry
- Renewable Energy – The article deals with large-scale battery energy storage projects which play a critical role in the renewable energy industry by providing grid stability and reliability as more renewable generation is integrated.
- Private Equity – EIG Global Energy Partners is a private equity firm investing in energy and infrastructure sectors, which is relevant as they back Fidra Energy in its strategic initiatives.
- Energy Transition – The success of Fidra's projects in the Capacity Market Auction highlights their role in advancing the UK's energy transition to a clean power system.
Financials
- £350 million – The estimated fixed revenue that Fidra will receive over 15 years from the awards once the BESS sites are operational.
- $23.4 billion – The total assets under management by EIG as of December 31, 2024.
- $49.8 billion – The total funds committed by EIG to the energy sector throughout its history.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Fidra Energy | Target Company | Company | A European battery energy storage system platform developing large BESS projects in the UK. |
| EIG Global Energy Partners | Private Equity Firm | Company | An institutional investor focusing on the global energy and infrastructure sectors, backing Fidra Energy. |
| Chris Elder | CEO, Fidra Energy | Person | The Chief Executive Officer of Fidra Energy responsible for leading the company. |
| Walid Mouawad | Managing Director, EIG | Person | Managing Director and Co-Head of Energy Transition at EIG, involved in the company's investment strategy. |
| NESO | Auction Result Publisher | Government | The body responsible for publishing the provisional results of the Capacity Market Auction. |
| Sungrow | Strategic Partner | Company | Partnered with Fidra Energy to provide battery energy storage systems for its projects. |
| Cavendish Consulting | PR & Communications | Company | Responsible for managing communications on behalf of Fidra Energy. |
| FGS Global | PR & Communications | Company | Handles communications for EIG Global Energy Partners. |