DIF Capital Partners Commits £200M Investment in Field’s Battery Energy Storage

DIF Capital Partners, via its DIF Infrastructure VII fund, has announced a £200 million investment into Field, a London-headquartered dedicated developer and operator of battery energy storage systems.

The investment’s primary objective is to support Field in expediting the development and expansion of its 4.5 GWh pipeline of grid-scale battery energy storage projects in the UK and Western Europe.

Field is already operating its first site in the UK, a 20 MWh battery project in Oldham, Greater Manchester. In addition, the firm has presence with another four sites totalling 210 MWh in or near construction in the UK, including Newport in South Wales, Blackburn in Lancashire, Gerrards Cross in Buckinghamshire and Auchteraw in the Scottish Highlands.

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Field’s battery energy storage systems allow energy generated during times of lower demand to be stored and released to the grid during times of higher demand.

Gijs Voskuyl, Partner and Deputy CEO at DIF, said, “We’re very excited to make a second investment in the battery storage sector which we see as a critical component for the UK energy industry to reach Net Zero and which we see as highly complementary to DIF’s extensive renewable energy portfolio.”

In June 2023, DIF and co-shareholder ib vogt, holding a 10 per cent stake, announced the successful financial close on a substantial 540MW co-location solar and battery portfolio. This portfolio was acquired from Cero Generation and Enso Energy in November 2022. It consisted of seven fully prepared sites, showcasing an impressive combined capacity of 720MW, with 380MW designated for solar energy generation and an additional 340MW allocated to Battery Energy Storage Systems (BESS).

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Commenting on the recent investment, Amit Gudka, Field CEO said: “We will not be able to meet net-zero targets without significant investment in new energy infrastructure. Battery storage is a critical part of that infrastructure. The more we can build, the more effective mass usage of wind and solar power will become.

“Our partnership with DIF Capital Partners will enable Field to accelerate the buildout of battery storage in the UK and across Europe. And it will help us build, develop and operate the storage we need to create a more reliable, flexible and greener grid.”

DIF Capital Partners stands as an autonomous infrastructure fund manager, overseeing approximately EUR 16 billion of Assets Under Management (AUM).