Fidra Energy reaches financial close on 500MW West Burton C battery storage project

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Summary · why it matters

Fidra Energy has reached financial close on its 500MW/1.1GWh West Burton C battery energy storage system project in Nottinghamshire, England. The European BESS developer, backed by EIG and the National Wealth Fund, secured £231 million in new loan facilities from a consortium of international lenders, adding to existing investment commitments from its backers. Total investment in the project is estimated at around £250 million. Construction is expected to begin later in 2026, with the facility becoming fully operational in 2028, and Sungrow will supply the batteries while H&MV Engineering serves as principal designer and contractor. Fidra has also signed a long-term offtake agreement with Drax Group for 50% of the project's capacity, and the project secured a 15-year UK capacity market award in March 2025.

Impact on stocks 2

Energy Transition & Power Demand▲ · 1 stocks
Drax Group PLC
DRX
▲ PositiveDemandrelevance

Drax Group signed a long-term offtake agreement for 50% of the project's capacity.

Others▲ · 1 stocks

Theme Impact 2

Off-coverage companies 4

Fidra EnergyPrivate▲ Positive
Capitalrelevance

Fidra Energy reached financial close and secured £231 million in loan facilities for its project.

H&MV EngineeringPrivate▲ Positive
Demandrelevance

H&MV Engineering will serve as principal designer and contractor for the project.

EIG Global Energy PartnersPrivate± Mixed
relevance

National Wealth FundPrivate± Mixed
relevance

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