Fidra Energy, a U.K.-based battery energy storage project developer, has reached financial close on its 500 MW/1.1 GWh West Burton C battery storage project in Nottinghamshire, England.

EIG and the National Wealth Fund will invest in the West Burton C project. In addition, the company has also secured £231 million (~$312 million) in new loan facilities. The debt package includes a term loan and ancillary facilities provided by a club of banks, including ABN Amro, China Minsheng Banking Corporation’s London branch, Mizuho, MUFG Bank, and Siemens Financial Services through Siemens Bank. Nomura Greentech and EIG served as Fidra’s financial advisers for the debt raise.

Fidra will build the project at the site of the former West Burton coal power station. Construction is scheduled to begin later in 2026, and the facility is expected to become fully operational in 2028.

Sungrow will supply the project’s battery systems. H&MV Engineering will serve as the principal designer and contractor for the 400 kV grid connection and electrical systems. Its scope also covers the installation and commissioning of the Sungrow battery systems.

Fidra has signed a long-term offtake agreement with Drax Group covering 50% of the project’s capacity. West Burton C secured a 15-year capacity market agreement in March 2025. The agreement will commence in October 2028.

The project forms part of Fidra’s battery storage development pipeline in the United Kingdom, which exceeds 4 GW. The company is also constructing the Thorpe Marsh battery storage project in South Yorkshire.

idra recently acquired the 1 GW Enderby battery storage project in Leicestershire and secured planning approval for the 1.2 GW Bicker Fen project in Lincolnshire.

According to Mercom’s recently released Q1 2026 Energy Storage Funding and M&A report, announced Energy Storage project funding increased 115% YoY in Q1 2026, compared to $8 billion raised in the same period in 2025.

In June, Spearmint Energy, a U.S.-based energy storage company, secured an expanded $325 million debt facility from Nuveen Energy Infrastructure Credit, Elda River Capital Management, Harrison Street Asset Management, and Aiga Capital Partners.