Equitix, Aware Super, and the UK’s National Wealth Fund (NWF) today announced a £500 million joint investment to accelerate the deployment of grid-scale battery storage across the UK, targeting more than 1GW of new capacity in the coming years.

The investment will be channelled into Eelpower Energy, a newly established platform dedicated to building, owning, and operating advanced battery storage assets. Eelpower Energy has already identified a portfolio of seed assets ready for construction and is developing a strong pipeline of future projects.

Battery storage plays a critical role in integrating renewable energy sources into the national grid, ensuring stability while driving down costs for consumers. By enabling large-scale storage, this initiative directly supports the UK government’s ‘Clean Power’ mission and ambition to deliver a decarbonised electricity system by 2030.

The partnership reflects the government’s broader strategy to mobilise pension and private-sector capital into infrastructure, with the Mansion House Accord aiming to unlock £50 billion of investment into the UK economy.

Equitix, a leading infrastructure asset manager, brings deep expertise in long-term infrastructure investment. Aware Super, one of Australia’s largest pension funds, is strengthening its role as a global infrastructure investor. The National Wealth Fund is committing up to £200 million, underscoring its priority to back battery storage as a cornerstone of the UK’s clean energy future.