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National Wealth Fund backs energy initiative
Paisley Daily Express
|August 28, 2025
THE National Wealth Fund has partnered with two investment firms as part of a £500 million initiative to bolster the UK’s battery storage infrastructure.
The alliance - featuring infrastructure asset manager Equitix and Australian pension fund Aware Super - will “build, own and operate grid-scale battery storage assets” through an investment in developer Eelpower Energy.
Chancellor Rachel Reeves championed the battery storage as a means to “help bring down bills” and create employment opportunities.
Energy Minister Michael Shanks stated the expansion of battery storage assets would drive the UK Government’s ‘Clean Power’ mission.
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