Published: 12 Jul 2023, 12:41
Field Energy’s battery storage at Oldham. Image; Field Energy
UK energy storage developer Field, has secured a £100 million (US$128 million) fundraising round for expansion according to Sky News.
The firm, set up by the co-founder of utility Bulb, Amit Gudka, after its collapse in 2021, secured the capital from DIF Capital Partners, a Dutch infrastructure investor.
The report says that the fundraising would be officially announced by Field in the coming weeks. Field declined to comment when asked by Energy-Storage.news.
The money will be used to expand the company’s rollout of BESS, with several sites already operational in the UK and Italy the next target. Italy country head Emanuele Taibi spoke to Energy-Storage.news for a deep-dive article into the most recent edition (35) of PV Tech Power.
It builds on a £77 million funding raise (equity and debt) Field secured in the middle of last year, as reported by Solar Power Portal. The developer is also entering the Italian market.
The firm looks to be expanding rapidly at the moment, with multiple job posts on their LinkedIn page across construction, operations and technology. The firm recently published a blog on the opportunities available within the ‘fast growing’ energy storage industry.
The company also recently announced “an exciting milestone at our Gerrards Cross site with the arrival of our batteries!”
The Gerrards Cross site is set to host 20 MWh battery storage. “Alongside our operational 20 MWh site at Oldham, the two projects will be able to supply enough electricity to meet the demand of 120,000 households for an hour,” the company said on LinkedIn.
The company has a 20MWh project in Oldham operational, with 210MWh under construction including a 100MWh project at Auchteraw in the Scottish Highlands.
See the original version of this story on Energy Storage News.