DIF Capital Partners (via its DIF Infrastructure VII fund) is pleased to announce a £200m investment into Field, a London-headquartered dedicated developer and operator of battery energy storage systems.
The investment will allow Field to accelerate the development and buildout of its 4.5 GWh pipeline of grid-scale battery energy storage projects in the UK and Western Europe as it seeks to contribute to the renewable energy infrastructure needed to reach Net Zero.
Field’s battery energy storage systems allow energy generated during times of lower demand to be stored and released to the grid during times of higher demand.
Field is already operating its first site in the UK, a 20 MWh battery project in Oldham, Greater Manchester. It has another four sites totalling 210 MWh in or near construction in the UK: Newport in South Wales, Blackburn in Lancashire, Gerrards Cross in Buckinghamshire and Auchteraw in the Scottish Highlands.
Gijs Voskuyl, Partner and Deputy CEO at DIF, said: “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 team.”
Commenting on the investment, Amit Gudka, Field CEO said: “We will not be able to meet net zero targets without significant investment in new energy infrastructure. Battery storage is a critical part of that infrastructure. The more we can build, the more effective mass-usage of wind and solar power will become.
“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.”
DIF was advised by PwC (financial) and Herbert Smith Freehills (legal). Field was advised by Nomura Greentech (financial) and Dentons (legal adviser).
About DIF Capital Partners
DIF Capital Partners is an independent infrastructure fund manager, with ca. EUR 16 billion of AUM. DIF was founded in 2005 and has built a leading position in managing mid-market investments, primarily in Europe, North America and Australia.
DIF follows two strategies: its traditional DIF funds invest in lower risk mid-sized infrastructure projects and companies in the energy transition (incl. renewables) and utilities sector, as well as PPPs and concessions. The firm’s CIF funds invest in small to mid-sized companies that will thrive in the new economy. These companies are typically active in the digital, energy transition and sustainable transportation sector.
With a team of over 225 professionals in 11 offices, DIF Capital Partners offers a unique market approach combining global presence with the benefits of strong local networks and investment capabilities. DIF is located in Amsterdam (Schiphol), Frankfurt, Helsinki, London, Luxembourg, Madrid, New York, Paris, Santiago, Sydney and Toronto.
For more information, please visit www.dif.eu
About Field
Field develops, builds and operates the renewable infrastructure we need to reach net zero, starting with battery storage. Our battery storage sites provide clean energy when and where it’s needed most. This creates a more reliable, flexible and greener energy system that provides greater energy security and helps countries across Europe move on from expensive fossil fuels.
In the UK, our portfolio of battery sites are already helping to decarbonise the electricity grid, and we are already developing further projects across Europe.
For more information, please visit www.field.energy
Contact DIF Capital Partners: press@dif.eu
