White & Case advises EIG on capital raise by the UK’s largest battery energy storage project

Global law firm White & Case LLP has 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 / 3,100MWh project at Thorpe Marsh, which is 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, Thorpe Marsh is expected to 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 is owned by EIG and 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 and new loan facilities of £595 million from a club of international lenders. In addition to Thorpe Marsh, it will also help to finance Fidra Energy’s future pipeline, including the 500 MW/1,100GWh BESS project at West Burton, Nottinghamshire.

The White & Case team in London which advised on the transaction was led by partner Richard Jones and included partner Jessica Kemp, counsel Kate Kelliher and associates Irina Fogarty, Emma Barker, Alexander Ward and Alice Parsons.

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