Mizuho supports the UK’s energy transition through financing for one of the country’s largest battery storage projects.
London, 5 August 2026: Mizuho EMEA is pleased to announce its participation in the senior debt financing of Fidra Energy's West Burton C Battery Energy Storage System (BESS) asset, one of the UK's largest battery storage projects. The project, developed by Fidra Energy and backed by EIG and the National Wealth Fund, has a total capacity of 500MW /1.1GWh.
West Burton C is the latest addition to Fidra’s battery storage platform, which includes Thorpe Marsh, the UK’s largest battery storage project. Construction is expected to commence later this year, with commercial operations anticipated in 2028. The project benefits from a 10-year Tolling Agreement with Drax Power Limited and a 15-yearCapacity Market Agreement, ensuring over 50% of the project’s capacity is contracted.
As the UK transitions towards its ambitious Net Zero and Clean Power objectives, BESS platforms are increasingly relied upon to provide flexibility, resilience and the balancing services required to support a renewables-led power system. Large-scale storage projects such as West Burton C play a vital role in integrating intermittent renewable generation, enhancing energy security and ensuring the reliability of the electricity network during periods of peak demand.
Mizuho’s involvement as Lender and Hedging Provider highlights the Bank’s growing expertise in the BESS sector. Mizuho’s commitment to supporting grid resilience further develops the bank’s leading position in supporting top-tier players who are intensively developing energy infrastructure across Europe. To date, Mizuho has financed more than 2,000 MW / 4,500 MWh of battery energy storage projects in Europe, demonstrating its strong track record and expertise in the sector.
Chris Elder, CEO of Fidra Energy:
"The successful financing of West Burton C marks another significant milestone for Fidra Energy as we continued to deliver the large-scale battery storage infrastructure needed to support the UK's transition to a cleaner, more resilient power system. Achieving financial close reflects the strength of the project, the quality of our partners and the confidence of leading financial institutions in battery storage as a critical part of the UK's future energy system. We now look forward to progressing construction and bringing the project into commercial operation."
Salvatore Ciccarelli, Co-Head of Infrastructure and Advisory, EMEA:
“We are delighted to support Fidra Energy on the successful financing of the West Burton C project.This landmark transaction reflects the growing importance of utility-scale battery storage in enabling the energy transition and delivering a more secure, flexible and sustainable electricity system. The project demonstrates the strong fundamentals of the UK battery storage market and highlights the vital role that financial institutions can play in accelerating investment into critical clean energy infrastructure.”
For more information about the West Burton C project, click here.
About Mizuho EMEA
Mizuho EMEA provides corporates and institutions in the region with unparalleled access and expertise in Japan and Asia, and supports clients with their corporate and investment banking, and asset management needs. Headquartered in London and with a strong presence throughout the region, our client base includes leading corporations, financial institutions and state owned entities. Mizuho is deeply committed to serving client needs, enabling our people to flourish, and helping to improve society and communities where we do business.
Mizuho’s presence in EMEA is an integral part of the Japan-based Mizuho Financial Group, Inc. Mizuho Financial Group is one of the largest financial institutions in the world, offering comprehensive financial and strategic services through its subsidiaries. The group has over 900 offices and 60,000 employees worldwide in nearly 40countries throughout the Americas, EMEA, and Asia. As of March 2026, its total assets were approximately US$2 trillion.
