White & Case Advised EIG On £1 Billion Capital Raise For UK’s Largest Battery Energy Storage Project

White & Case advised EIG on £1 billion capital raise for UK’s largest battery energy storage project

The global law firm, White & Case LLP, advised EIG, a leading institutional investor in the global energy and infrastructure sectors, on the £1 billion equity and debt capital raise by Fidra Energy, a battery energy storage system (BESS) platform. The capital raise will fund the UK’s largest BESS project at Fidra Energy’s Thorpe Marsh site in Doncaster, South Yorkshire.

The 1,400 MW / 3,100 MWh project at Thorpe Marsh, expected to commence operations in mid-2027, will be the largest battery storage facility in the UK and among the largest in Europe. Once completed, it will be three times larger than any other BESS project currently in operation or under construction in the UK and will have the potential to export over 2 million MWh annually, enough to supply approximately 785,000 homes each year.

Fidra Energy, owned by EIG, has a strategy to develop, build, and operate large battery energy storage projects in the UK and major European markets. The capital raise comprises £445 million of new equity investment from EIG and the National Wealth Fund, alongside £595 million in new loan facilities from a consortium of international lenders. In addition to Thorpe Marsh, it will also finance Fidra Energy’s future pipeline, including the 500 MW / 1,100 GWh BESS project at West Burton, Nottinghamshire.

The White & Case team in London was led by Richard Jones (Partner), with support from Jessica Kemp (Partner), Kate Kelliher (Counsel), and associates Irina Fogarty, Emma Barker, Alexander Ward, and Alice Parsons.

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