The new Fidra Energy team. Image: Fidra Energy.Institutional energy investment firm EIG has today (7 October) announced the launch of a new battery energy storage system (BESS) developer, Fidra Energy.
Fidra Energy is headquartered in Edinburgh, Scotland, and aims to have a 10GW of BESS projects across the UK and Europe by 2030.
So far, Fidra Energy has a 3.15GW development pipeline in the UK. The largest of these projects is the 1.45GW Thorpe Marsadh project, set to begin construction in South Yorkshire next year, which when completed will be the largest BESS project in Europe.
Additionally, Fidra Energy’s pipeline includes the 1.2GW Bicker Fen 1&2 project in the East Midlands, and Nottinghamshire’s 500MW West Burton C development. Once all three of these projects are completed, they are expected to have enough capacity to meet over 5% of the UK’s peak demand.
Chris Elder, Fidra Energy’s chief executive officer, said: “Battery storage is a proven, cost-effective and flexible technology that will be critical for Europe’s energy transition. Our strategy is focused on delivering big batteries to major markets through the development of large transmission-connected projects that secure economies of scale. By leveraging our team’s extensive experience in developing, building and operating large power projects, we are well positioned to capture this significant market opportunity.”
Walid Mouawad, managing director and global co-head of energy transition at EIG, added: “As renewable energy sources increase alongside rising electricity demand, we believe battery projects will be essential in supporting the deployment of intermittent renewable energy generation. We are excited to work with Chris and the team at Fidra Energy as they seek to advance Europe’s energy transition.”
This year so far has seen a number of new players entering UK BESS sector.
Root-Power, a spinoff of YELM, launched in July of this year and has already seen explosive growth. Its third BESS project, which broke ground in late September, is the third to begin construction since its launch. The company is targeting further growth in the coming year, having appointed five consultancy firms to submit over 40 planning applications before the end of 2024.
Last month, Irish energy trading and services company ElectroRoute announced that it was expanding into the UK renewables and BESS market, while continuing to manage its 1.9GW Irish portfolio, which includes 250MW of energy storage capacity.
