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), 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.