Standard Chartered has confirmed its role as Original Lender and Interest Rate Hedge Provider in the £595 million ($805m) financing of the Thorpe Marsh Battery Energy Storage System (BESS), which is set to become the largest in the United Kingdom.
The financing was secured by Thorpe Marsh Green Energy Hub, a subsidiary of Edinburgh-based Fidra Energy. The full package includes up to £445 million ($603m) in equity investments from global energy investor EIG and the UK’s National Wealth Fund.
Located in Doncaster, Yorkshire, the lithium-ion Thorpe Marsh BESS will be built on a 55-acre former coal station site. With a planned capacity of 1.4GW/3.1GWh, the system will be capable of exporting over two million megawatt-hours annually – enough to power approximately 785,000 homes.
The project will play a critical role in supporting the UK’s energy transition by storing surplus electricity and releasing it during peak demand. This will enhance grid flexibility, reduce reliance on fossil fuels, and contribute directly to national net-zero targets.
Construction of the BESS is scheduled to begin in September 2025, with phased completion of the arrays and full commercial operations expected by Q1 2028.
“Reaching financial close for Thorpe Marsh is a huge achievement for Fidra Energy. Thorpe Marsh is one of the most exciting infrastructure projects in the world and a landmark transaction in the energy sector. The investment by EIG and the NWF is testament to the outstanding team at Fidra and everyone who has supported us on the project,” said Chris Elder, chief executive officer of Fidra Energy.
