Our Corporate Energy Transition team has advised Strioga Family
Foundation, which through its investment vehicle UAB E Energy
Invest (EEI), recently invested into Gresham House Energy Storage
Fund's (GRID) combined 50MW Glassenbury battery energy storage
system projects (Glassenbury). This transaction marks the first
investment of Strioga Family Foundation into the UK energy
market.
The transaction involved equity funding of £8.6 million
through a subscription of new shares in Glassenbury, enabling the
planned augmentation of the 50MW Glassenbury A and B battery
storage projects in Kent – from a combined 38MWh to 110MWh of
capacity. The enhanced 2.2-hour duration will significantly
increase the project’s value and performance. Planning
permissions are secured and construction is expected to commence in
July 2025, with completion scheduled by year-end.
EEI, the investment arm of the Strioga Family Foundation, will own
a 35% stake in the Glassenbury portfolio, with GRID retaining the
remaining 65%. This funding mechanism – an
augmentation-driven equity injection at project level – is a
first for a listed battery energy storage fund and represents an
important step forward in unlocking further growth across the
sector.
Our team was led by Corporate Energy Partner Will Glover, supported
by Associate Hannah Gough.
Will Glover, Partner at Gowling WLG, said: "We are delighted
to have been selected by Strioga Family Foundation to support them
on their first foray into the UK energy market and the successful
close of this transaction with Gresham House. As the inaugural
investment of Strioga Family Foundation into the UK, the deal
demonstrates the UK’s global appeal as a hub for energy
storage innovation. This is a highly positive development for the
battery storage sector, and a compelling example of how
augmentation-led investment can drive greater grid flexibility,
value creation, and resilience for the UK’s energy
transition."
Gowling WLG’s Energy Transition team has a market-leading
reputation and operates seamlessly around the globe. Our deep
sector expertise, particularly in battery storage, enables us to
advise clients across the full project lifecycle – from
development and financing through to optimisation, M&A and
beyond.
PRESS RELEASE
7 July 2025
Corporate Energy Transition Team Advises Strioga Family Foundation On Strategic UK Battery Storage Investment And Project Augmentation
Our Corporate Energy Transition team has advised Strioga Family Foundation, which through its investment vehicle UAB E Energy Invest (EEI)...