The UK is ramping up its energy transition with a £500 million (USD 672 million/EUR 580 million) battery storage platform aimed at delivering over 1 gigawatt (GW) of new capacity across the country.
The initiative, led by infrastructure investor Equitix, brings together UK developer Eelpower, Australian pension fund Aware Super, and Britain’s National Wealth Fund (NWF), signaling growing international interest in large-scale grid storage.
The platform, branded Eelpower Energy, is set to start construction on 300 megawatt-hours (MWh) of storage capacity across three initial projects, with final investment decisions on up to 1 gigawatt-hour (GWh) expected by the end of 2025. Eelpower, which retains a minority stake, has transferred its management team to oversee operations under the new platform, ensuring continuity in technical expertise.
Under the agreement, NWF will contribute up to £200 million, while Equitix and Aware Super provide additional financing. The move strengthens the UK’s energy storage landscape at a critical moment: integrating renewable energy while managing grid stability. According to Eelpower Energy CEO Mark Simon, battery storage is “key to enabling the growth of abundant, low-cost renewable energy and without this technology the energy transition cannot succeed.”
The initiative also aligns with the UK government’s Clean Power 2030 mission, which emphasizes large-scale storage as a cornerstone of energy security. Energy Minister Michael Shanks highlighted the role of new battery projects in shielding households and businesses from future energy price volatility, a concern underscored by the country’s growing reliance on intermittent renewable generation.
Battery storage in the UK has seen rapid growth in recent years, with total installed capacity surpassing 4 GW in 2024. Yet, forecasts from National Grid ESO suggest the country will require an additional 20–25 GW of flexible storage by 2035 to balance a renewable-heavy grid. By targeting over 1 GW in the next few years, Eelpower Energy aims to address both short-term grid pressures and longer-term decarbonization targets.
For investors such as Aware Super, the platform represents a long-term infrastructure opportunity in a market with stable policy support and rising demand for flexibility services. The fund, which manages approximately AUD 200 billion, emphasized that its participation reinforces its role in supporting sustainable energy infrastructure while achieving long-term returns.
The initial projects under Eelpower Energy are expected to be sited across Scotland and northern England, where grid congestion and renewable penetration are highest.
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