Executive summary

A 50 MW / 200 MWh battery storage project near Winchester, Hampshire, has been acquired by Eelpower Energy from Balanced Grid Works. The deal marks the company's fifth acquisition. Construction is scheduled to start in 2027, with commercial operations expected in 2028.

The UK-based grid-scale battery storage platform Eelpower Energy, backed by Equitix, Aware Super and the UK National Wealth Fund, has acquired the Silkstead battery storage project from Balanced Grid Works.

Located southeast of the Winchester substation in Hampshire, the project has a planned capacity of 50 MW / 200 MWh. Construction is expected to begin in 2027, with commercial operations targeted for 2028.

Silkstead marks Eelpower Energy's fifth acquisition since its launch. The company has outlined plans to invest GBP 500 million in battery storage across Great Britain, with the aim of building, owning and operating more than 1 GW of grid-scale battery assets.

Mark Simon, chief executive of Eelpower Energy, described Silkstead as an important addition to the company's battery storage portfolio. He said the transaction demonstrated the team's ability to secure and complete deals with established counterparties such as Balanced Grid Works. He also highlighted the company's wider goal of supporting a more flexible and resilient electricity system in Great Britain.

Kevin Parr, director of Balanced Grid Works, highlighted the working relationship between the two teams throughout the transaction. He said their cooperation helped resolve issues that arose during due diligence and completion in a fair and timely manner. Balanced Grid Works will continue to follow the project's progress as it moves into its next stage of development.

Eelpower Energy currently has four projects with a combined battery storage capacity of 500 MWh under construction. The company also plans to reach a final investment decision on a further 1.5 GWh of capacity by the end of 2026.