Watson Farley & Williams (“WFW”) advised a consortium of lenders – comprising ABN AMRO, China Minsheng, Mizuho, MUFG and Siemens Bank – on the £231m debt financing of Fidra Energy’s 500 MW (1.1 GWh) West Burton C battery energy storage system (“BESS”) project in Nottinghamshire, UK.
West Burton C represents an approximately £250m investment in UK energy infrastructure and is one of the largest battery storage projects currently under development nationwide. The project is being developed by Fidra Energy (“Fidra”), the Edinburgh-headquartered battery storage platform backed by leading global energy investor EIG and the National Wealth Fund.
Located on the site of the former West Burton coal power station in Nottinghamshire, West Burton C is expected to be capable of supplying electricity to approximately 300,000 homes during periods of peak demand. Construction is scheduled to commence in 2026, with full commercial operations expected in 2028. Sungrow will supply the battery systems for the project, while H&MV Engineering will oversee the 400kV grid connection, electrical works and commissioning of the battery systems. Fidra has also entered into a long-term offtake agreement with Drax Group covering 50% of the project’s capacity and previously secured a 15-year Capacity Market award commencing in October 2028.
West Burton C follows the successful financing of Fidra’s 1.45 GW (2.9 GWh) Thorpe Marsh BESS project in Yorkshire, on which WFW also advised the lenders and hedge counterparties. Together, Thorpe Marsh and West Burton C represent two of the UK’s most significant battery storage developments and underline Fidra’s position as a leading developer in the UK energy storage sector.
The multidisciplinary WFW London Energy team that advised the lenders was led by Projects Partner Jennifer Charles, supported on finance matters by Senior Associate George Garthwaite and Associates Kate Clancy and James Fitzjohn. Project development expertise was provided by Partner Emmanuel Ninos, Senior Associate James Ballantyne and Associate Ben Harvey. Hedging advice was provided by Partner Rob McBride and Associate Ambrose Ip. Real Estate advice was provided by Partner John Rosmini and Associate Mia Langston, with Associate Hamish Ungless advising on planning and regulatory matters.
Jennifer commented: “We are delighted to have advised the lenders on the financing of West Burton C, building on our role advising the lender group on Fidra’s landmark Thorpe Marsh financing. Battery energy storage continues to be a critical enabler of the energy transition, and our involvement on both flagship projects demonstrates the strength of the UK BESS market and WFW’s market-leading position advising lenders on complex energy storage financings. We look forward to seeing West Burton C play an important role in supporting a more flexible, resilient and decarbonised electricity system”.
