US EditionNational Wealth Fund Pumps Millions Into Battery Storage Developer
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National Wealth Fund commits £200m to UK battery storage push
The government’s National Wealth Fund (NWF) has pledged up to £200 million to support new battery storage projects across Britain, as part of a £500 million investment package designed to strengthen the country’s clean energy infrastructure. The deal sees the NWF co-invest with Australian pension fund Aware Super and infrastructure investor Equitix in Eelpower, a specialist battery developer. Construction of three new storage projects will begin…
National Wealth Fund pumps millions into battery storage developer
The National Wealth Fund has joined forces with two investment firms as part of a £500m venture to enhance the UK’s battery storage facilities. The consortium – including infrastructure asset manager Equitix and Australian pension fund Aware Super – will “build, own and operate grid-scale battery storage assets” via an investment in developer Eelpower Energy. Chancellor Rachel Reeves touted the battery storage as a way to “help bring down bills”…
The UK's sovereign wealth fund, along with Australian pension fund Aware Super and global investor Equitix, has pledged a total of £500 million (approximately €590 million) to support British company Eelpower Energy, a battery storage specialist. This was reported by the British newspaper "Financial Times." Aware Super and NWF will each contribute £200 million (approximately €236 million), while Equitix will finance the remaining £100 million (a…
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