World’s Biggest Battery Secures Financing for UK Construction

The world’s biggest battery project secured about £750 million ($1 billion) in public and private financing, and will begin construction immediately in northern England, marking a significant step forward in the UK’s transition to renewable energy.

The 1.4-gigawatt system is being built by Edinburgh-based Fidra Energy with backing from the National Wealth Fund and institutional investor EIG, according to a joint statement released Wednesday. The Thorpe Marsh project is located in South Yorkshire, which is UK Energy Secretary Ed Miliband’s constituency, and potentially could supply more than 785,000 homes.

The announcement comes at a pivotal time as the ...