Eelpower acquires 50 MW/200 MWh battery storage project in UK

Eelpower Energy, a UK grid-scale battery storage platform backed by Equitix, Aware Super and the National Wealth Fund, said it has acquired the Silkstead battery energy storage project near Winchester, England, from developer Balanced Grid Works. The company described the installation as a 50 MW/200 MWh development.

Balanced Grid Works is registered with UK Companies House under number 11706102. The Silkstead project has a planning application on record with Winchester City Council, reference 24/01007/FUL, for construction and operation of a battery storage facility on a temporary 30-year basis at Land At Silkstead Farm, Poles Lane, Hursley, Hampshire.

Eelpower Energy said construction on the project is expected to begin in 2027, with commercial operations starting in 2028. The company described the acquisition as its fifth since launching in September 2025 and said it is working toward a GBP 500 million ($674.7 million) investment in UK battery storage as part of a plan to build, own and operate more than 1 GW of grid-scale battery assets.

Eelpower Energy Chief Executive Mark Simon said the acquisition demonstrates the company’s ability to originate and execute deals with high-quality counterparties, and that it supports its backers’ commitment to invest in infrastructure for a cleaner, more flexible electricity system in Great Britain.

Balanced Grid Works Director Kevin Parr said the company developed a strong working relationship with the Eelpower team throughout the transaction process.

Eelpower Energy was advised on the deal by Burges Salmon, Everoze, Roadnight Taylor and Alvarez & Marsal. Balanced Grid Works was advised by Foot Anstey and Albert Goodman.

Eelpower Energy was formed in August 2025 when Equitix, Aware Super and the National Wealth Fund committed GBP 500 million in public and private capital to launch the platform, with the National Wealth Fund contributing up to GBP 200 million specifically for UK projects.