Fidra Energy has reached financial close on the Thorpe Marsh battery energy storage system (BESS) in Yorkshire, securing £1 billion in funding for what will be the UK’s largest battery storage project to date.
Located on the site of a former coal-fired power station near Doncaster, the 1.4GW / 3.1GWh facility is expected to begin operations by July 2027. Once complete, it will be capable of storing and delivering over 2 million megawatt hours (MWh) annually—enough to supply electricity to approximately 750,000 homes.
“Thorpe Marsh is one of the most exciting infrastructure projects in the world and a testament to the outstanding team at Fidra and others who have supported us on this journey,” said Chris Elder, chief executive of Fidra Energy.
The project received planning approval from Doncaster Council in January 2025. It is expected to contribute to the regional economy through job creation during both construction and operation phases. The battery units will be supplied by Sungrow and will utilise lithium-ion technology.
The financing package includes up to £445 million in equity investment from EIG and the UK’s National Wealth Fund. An additional £594 million will be provided via loan facilities from a consortium of international lenders. Financial advisers on the transaction included Santander CIB, New End, and EIG Global Energy Partners Capital Markets. Legal advice to the lending syndicate was provided by Watson Farley & Williams.
Fidra has signed long-term offtake agreements with EDF, Octopus Energy, and Statkraft, covering roughly 80% of the project’s capacity.
Energy Secretary Ed Miliband welcomed the investment, saying: “It’s fantastic to see the National Wealth Fund breathing new life into a former coal site – turning it into a cutting-edge battery hub that will power thousands of British homes and businesses with clean energy from wind and solar.”
“Every battery we build boosts Britain’s energy security, reduces our exposure to fossil fuel price shocks and drives us towards clean power by 2030 – all part of our Plan for Change,” Miliband added.
Once operational, Thorpe Marsh is expected to be more than three times larger than any battery storage project currently operating or under construction in the UK.
