After confirming its €250investment in optic fibre in Finland via one of its funds earlier this month, DIF Capital Partners has made a significant £200 million investment in Field, a London-based company that specializes in developing and operating battery energy storage systems.
The investment comes through the DIF Infrastructure VII fund, which already has six investments since its inception in 2022 and targets Public-Private partnerships, Concessions, Utilities, and Renewable Energy assets.
Investment Summary
|
Aspect |
Details |
|
Investment Amount and Investor |
£200 million (DIF Infrastructure VII fund) |
|
Investment Recipient |
Field |
|
Purpose |
Accelerate development and buildout of 4.5 GWh pipeline of grid-scale battery energy storage projects in the UK and Western Europe |
|
Field’s Current Projects |
– Operational: 20 MWh battery project in Oldham, Greater Manchester – Under Construction: 210 MWh battery projects in Newport, Blackburn, Gerrards Cross, and Auchteraw (all across the UK) |
|
DIF Advisor |
DIF Capital Partners: PwC (financial), Herbert Smith Freehills (legal) |
|
Field’s Advisor |
Field: Nomura Greentech (financial), Dentons (legal adviser) |
Investment goals
This investment will enable Field to expedite the development and construction of its pipeline of grid-scale battery energy storage projects, totaling 4.5 GWh, in the UK and Western Europe.
The company aims to play a crucial role in supporting the renewable energy infrastructure required to achieve Net Zero emissions.
Field’s battery energy storage systems play a vital role in the energy transition by allowing excess energy generated during periods of low demand to be stored. This stored energy can then be released to the grid during peak demand periods, ensuring a more stable and reliable energy supply.
Field has already launched its first battery project, a 20 MWh battery system in Oldham, Greater Manchester, which is under operation since 2022.
Additionally, the company has four other projects with a combined capacity of 210 MWh in various stages of construction in the UK, located in Newport, Blackburn, Gerrards Cross, and Auchteraw.
Senior Management statements
DIF
“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. We are looking forward to working with the Field management tea.”
Gijs Voskuyl, Partner and Deputy CEO at DIF
Field
“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.”
Amit Gudka, Field CEO
About DIF
DIF Capital Partners is a prominent independent infrastructure fund manager, overseeing an impressive €16 billion in assets under management.
Since its establishment in 2005, DIF has carved out a leading position in the management of mid-market investments, with a primary focus on ventures in Europe, North America, and Australia.
The company employs two core strategies to drive its success:
- The traditional DIF funds are dedicated to investing in lower-risk, mid-sized infrastructure projects and companies operating in the energy transition, renewable energy, utilities, and public-private partnerships (PPPs) and concessions sectors.
- The firm’s CIF funds are geared towards nurturing small to mid-sized companies that demonstrate potential for thriving in the emerging new economy.
For more information, visit dif.eu.
