The race to decarbonize the UK’s energy system just hit a new milestone. Fidra Energy, a leading European battery and energy storage platform backed by EIG Global Energy Partners, has secured more than $1.4 billion in combined debt and equity funding to deliver the Thorpe Marsh Battery Energy Storage System (BESS). Located in Doncaster, South Yorkshire, this project is set to become one of the largest in Europe, transforming a former coal power station site into a hub of clean energy innovation.

The financing package includes a $805 million debt facility from a global consortium of lenders such as Deutsche Bank, Standard Chartered, and MUFG, alongside $602.98 million in equity investment from EIG and the UK’s National Wealth Fund. These funds will directly support the construction of the 1,400 MW / 3,100 MWh Thorpe Marsh BESS, expected to export over 2 million MWh annually once operational in mid-2027. With long-term capacity agreements secured and offtake contracts already in place with EDF, Octopus Energy, and Statkraft, the project demonstrates the strong market demand for large-scale energy storage solutions.

Thorpe Marsh’s transformation from a coal-fired power station into a clean energy storage hub signals a powerful shift in how infrastructure is being repurposed to meet net-zero targets. Spanning 55 acres and strategically located next to a National Grid substation, the site offers the perfect foundation for large-scale integration of renewable energy. The project has also attracted major engineering and technology partners, including H&MV Engineering for grid connection and Sungrow for the battery energy storage systems. Together, they ensure the project is not just ambitious, but technically and commercially robust.

While Thorpe Marsh is the flagship, Fidra Energy’s ambitions go much further. The company is advancing a pipeline of over 3 GW of BESS projects, including the 500 MW / 1,100 MWh West Burton project. Its long-term vision is to deliver a 10 GW energy storage platform across the UK and Europe by 2030. Backed by EIG’s proven track record and advised by leading institutions such as Santander CIB and New End, Fidra is positioning itself as a critical player in Europe’s energy transition. By converting legacy fossil fuel assets into clean energy infrastructure, Fidra demonstrates how finance, technology, and strategy converge to accelerate decarbonization at scale.

The Thorpe Marsh BESS project isn’t just about one site—it’s a blueprint for the energy systems of tomorrow.
Explore our latest insights, project updates, and more at Enerdatics. Don’t forget to subscribe to our newsletter for real-time updates.