Equitix has formed a consortium with Australian pension fund Aware Super and the UK’s National Wealth Fund (NWF) to launch a £500 million ($672m) investment platform focused on grid-scale battery storage.
The new battery energy storage platform, Eelpower Energy, will build, own and operate battery assets across the UK, with a target of delivering over 1GW of new capacity in the coming years.
Eelpower Energy will be led by a seasoned management team with deep expertise in battery storage delivery, asset optimisation, and operations. The company has already identified a portfolio of seed assets that will enter construction immediately, alongside a robust pipeline of high-quality, actionable projects to support long-term growth.
“Battery storage is key to enabling the growth of abundant, low-cost renewable energy and without this technology the energy transition cannot succeed,” said Mark Simon, CEO of Eelpower Energy. “Given the track record of our team in this sector I am confident that Eelpower Energy, supported by the powerful consortium of investors led by Equitix, will accelerate the rollout of flexible energy storage assets across the country that are so critical to delivering the UK’s decarbonisation goals.”
The National Wealth Fund will contribute up to £200 million to the platform, acting as a strategic investor to attract private capital into commercially viable clean energy projects. This marks the latest collaboration between NWF and Equitix and strengthens Aware Super’s role as a key infrastructure investor in the UK’s energy transition.
