National Wealth Fund completed the acquisition of a 45% stake in Fidra Energy from EIG Global Energy Partners for £200m.

National Wealth Fund, a UK government-owned policy bank, completed the acquisition of a 45% stake in Fidra Energy, an independent battery energy storage business, from EIG Global Energy Partners, a provider of institutional capital to the energy sector globally, for £200m. "The NWF is set to play a meaningful part in helping the UK achieve its clean energy ambitions, through our support for this and other key projects. Our investment highlights our role as a significant player in the storage sector, and, working alongside EIG and Fidra, we’re helping to provide the finance needed to deliver large-scale battery assets to improve grid stability and further enhance the UK’s energy independence," Ian Brown, National Wealth Fund Interim CEO.