Equitix, Aware Super and NWF Launch EUR 500 Million UK Battery Storage Platform Eelpower Energy
Equitix, alongside Australia’s Aware Super and the UK’s National Wealth Fund, has launched Eelpower Energy, a EUR 500 million battery storage platform aiming to deliver over 1 GW of grid-scale capacity to accelerate the UK’s clean energy transition.
September 01, 2025. By Mrinmoy Dey
Working with the investor consortium, Eelpower Energy has identified a portfolio of seed assets which will immediately enter construction, alongside a material pipeline of high-quality, actionable project opportunities to facilitate growth of the platform over time.
Mark Simon, CEO of Eelpower Energy, said, “Battery storage is key to enabling the growth of abundant, low-cost renewable energy and without this technology the energy transition cannot succeed. Given the track record of our team in this sector I am confident that Eelpower Energy, supported by the powerful consortium of investors led by Equitix, will accelerate the rollout of flexible energy storage assets across the country that are so critical to delivering the UK’s decarbonisation goals.”
Hugh Crossley, CEO of Equitix, said, “This significant investment reflects our shared confidence in the long-term value of the sector, and our consortium brings deep expertise in infrastructure investment, a proven ability to deliver complex energy projects, and attractive risk weighted returns. Equitix is committed to ensuring that our investments deliver meaningful local impact and contribute to the UK’s sustainability goals through cleaner, more resilient energy infrastructure.”
Aware Super Deputy CIO and Head of International Damien Webb said, “We are excited by our partnership with local institutions, Equitix and the National Wealth Fund, and look forward to generating attractive returns for our 1.2 million members. This new platform will build on our existing UK and European infrastructure portfolio – that includes Forth Ports and EuNetworks – and demonstrates our confidence in the battery storage sector’s role in delivering cleaner, more resilient energy systems.”
The National Wealth Fund, the government’s principal investor and policy bank, is committing up to EUR 200 million into the platform. NWF operates as a strategic investor, aiming to crowd in private capital by taking cornerstone positions in commercially viable projects in support of the Government’s growth and clean energy missions.
Ian Brown, Interim CEO of National Wealth Fund, said, “Battery storage technology is crucial for the successful integration of renewables into the UK energy system and is therefore a priority area for the NWF. Our investment in Eelpower Energy is yet another example of how we’re supporting more storage capacity to come online at pace and scale to help meet the government’s clean power targets.”
Energy Minister Michael Shanks said, “This National Wealth Fund investment shows that we are serious about developing and backing battery storage to unlock Britain’s renewable potential. Every battery storage facility we build will help protect homes and businesses from future energy price shocks and will support our Clean Power 2030 mission that will scale up renewable projects alongside battery storage across Great Britain, so excess renewable energy can be stored to use later, instead of wasted.”
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