Eku Energy, an energy storage company, said it has secured more than £145 million in debt financing for its near-term UK projects and a new battery energy storage system (BESS) facility.
The funding from NatWest Bank and Sumitomo Mitsui Banking Corporation includes £45 million for a 99MW/198MWh BESS based in the West Midlands, UK.
This BESS, which will be located at Ocker Hill between the two Black Country towns of Dudley and Wednesbury, is set to be commissioned in 2026.
It will use 54 Tesla megapack batteries and will be built by H&MV Engineering, which is said to have experience with BESS projects using Tesla technology.
The project is located near to where a former coal-fired power station with the same name was, said Elias Saba, chief technology officer at Eku.
There is also £100 million in funding which is an uncommitted accordion facility and will go towards the firm’s near-term UK-based projects, it said.
This includes the seven planned BESS projects gained when it acquired Bluestone Energy’s portfolio of UK energy storage projects in April 2025.
The project is set to start being constructed next month, according to the company.
Daniel Burrows, chief executive officer, Eku Energy, said: “Eku Energy’s growing portfolio in the United Kingdom reflects our commitment to deliver safe, secure, and reliable energy storage solutions that will provide cost-effective clean energy. By securing strong financial backing from NatWest Bank and Sumitomo Mitsui Banking Corporation for the Ocker Hill BESS and partnering with Tesla and SmartestEnergy, we are continuing to expand our role in building a more flexible and resilient energy system for the United Kingdom.”
Image: Artist rendition of Ocker Hill BESS. Credit: Eku Energy.
