Abdul Latif Jameel Energy FRV – Financial Close Secured for Two Major UK Battery Storage Projects
Abdul Latif Jameel Energy FRV has reached a significant milestone with the successful financial close of two battery energy storage system (BESS) projects—Contego and Clay Tye—located in West Sussex and Essex in the United Kingdom. The projects, developed by Fotowatio Renewable Ventures (FRV), mark a major step forward in the UK’s transition to a resilient, low-carbon energy grid.
FRV, a global leader in sustainable energy solutions and part of Abdul Latif Jameel Energy, has secured financing totalling USD $75 million (£61 million) through Natixis CIB UK. The financing covers more than 60% of the total project costs and represents the largest project finance executed on a fully merchant battery portfolio in Europe to date. This milestone underscores both investor confidence and the accelerating demand for large-scale battery infrastructure that supports renewable energy integration.
Clay Tye and Contego: Two of the UK’s Most Advanced Battery Projects
Clay Tye stands out as one of the largest battery storage sites in the UK, delivering 99 MW of output and 198 MWh of storage capacity. The project utilises 52 Tesla Megapack lithium-ion units, enabling rapid, flexible grid support and improved renewable energy stability.
Contego, another landmark asset in FRV’s portfolio, uses 28 Tesla Megapack batteries and boasts an output of 34 MW with a capacity of 68 MWh. Together, these projects significantly expand FRV’s presence in the UK BESS market. The company now has over 5 GW of energy storage projects under development nationwide—a major contribution to strengthening the UK’s clean energy transition.
Both projects are part of the UK’s broader strategy to increase renewable penetration, reduce emissions and stabilise the grid during periods of high demand or low renewable output.
Strengthening the UK’s Path Toward Net-Zero
Fady Jameel, Deputy President and Vice Chairman of Abdul Latif Jameel, emphasised the strategic importance of the milestone: “Reaching this financial close marks another milestone in our commitment to developing the UK’s renewable energy sector and supporting the realisation of the country’s ambitions towards reaching net-zero emissions by 2050.”
He added that the achievement reinforces Abdul Latif Jameel Energy FRV’s position as a trusted global partner in the energy transition, with a growing and diverse BESS portfolio expanding across the UK and beyond.
FRV’s Growing Influence in the UK BESS Market
David Menéndez, Managing Director of FRV UK, noted that the financial close strengthens the long-term sustainability of the company’s BESS business model. It also reinforces FRV’s commitment to scaling energy storage solutions that support decarbonisation, grid flexibility and peak-shaving operations.
Data from Modo Energy shows that two of FRV’s UK assets—Contego and Holes Bay—ranked among the country’s best-performing battery plants in 2022. These results demonstrate FRV’s strong operational performance and the strategic importance of battery storage in Europe’s energy transformation.
Innovative Financing for a Rapidly Expanding Industry
Natixis CIB UK played a central role in structuring the innovative project finance package. Pascal Soldaini, Managing Director and Head of Infrastructure & Energy Finance, highlighted Natixis’ vision: “One of the focuses of Natixis CIB strategy is to finance the energy transition and increase our Green Loan origination. BESS is essential to reaching the UK’s decarbonisation objectives by allowing greater renewable energy penetration into the grid.”
He added that this transaction reflects the strong collaboration between Natixis and FRV, signalling continued support for BESS markets in the UK, Australia, Europe, and the United States.
A Milestone in Global Battery Storage Leadership
The achievements of Abdul Latif Jameel Energy FRV reinforce the company’s global leadership in renewable energy and battery storage. As countries increase their renewable energy targets, utility-scale storage has become essential for ensuring grid flexibility, resilience and decarbonisation.
With growing global demand for flexible, fast-responding energy assets, FRV’s expanded UK portfolio provides a blueprint for the future of clean energy financing and deployment.
What Comes Next?
As FRV continues to advance its 5 GW pipeline, its projects will play a critical role in supporting energy security, stabilising intermittent renewable flows, and accelerating progress toward the UK’s 2050 net-zero targets.
For related insights, explore growth of renewable energy storage in the Middle East or learn more about the technology powering these projects via the Tesla Megapack specifications.