Posted 19 May 2025
Field, a British battery storage business operating across Europe, announces the agreement of a £42 million senior non-recourse loan with Rabobank and ING to finance the rapid deployment of 125 MW of sites in England and Scotland.
The investment agreement covers financing for three battery storage projects in Whitebirk (25 MW), Holmston (50 MW) and Drum Farm (50 MW). Located in Blackburn, Field Whitebirk is expected to begin operation later this year. Field Holmston in Ayr, South Ayrshire and Field Drum Farm in Keith, Moray will begin operation from 2026 and 2027, respectively.
Once deployed, all three two-hour duration sites will be capable of powering the equivalent of 416,667 homes for two hours when called on. Field forecasts it will avoid up to 170,665 tonnes of CO2 emissions from entering the atmosphere over its lifetime, providing vital services to the grid.
Whitebirk’s launch later this year follows the UK Government’s publication of the Clean Power 2030 Action Plan, which forecasts the need for 23-27 GW of battery storage capacity (up from current available capacity of 5 GW) by the end of the decade.
Recent curtailment costs highlight the urgent need for more battery storage capacity, particularly in Scotland. In the first two months of 2025, the UK incurred £253 million in expenses related to managing excess wind energy, a significant increase from £158 million during the same period in 2024. [1]
Investment in battery storage infrastructure, such as Field’s Whitebirk, Drum Farm and Holmston projects, is essential to reduce such costs, ultimately covered by energy bill payers, and maximise the use of available renewable energy capacity, as the share of wind and solar power grows in the UK’s energy mix.
The agreement with ING and Rabobank also covers the use of Gaia, Field’s in-house flexibility platform, for optimising the deployment of all three sites, once operational. Field first launched Gaia at its site in Oldham, Greater Manchester in December 2024, automating its participation in the intraday, wholesale and balancing markets on a day to day basis.
Stephen White, CFO of Field, said: "We are delighted to partner with ING and Rabobank as we work to deliver our pipeline of battery storage sites in the UK. Battery storage plays an increasingly important role in a power system run by cleaner electricity, reducing the need for curtailment, and therefore, costly constraint payments at a time when energy bills are already high. We look forward to deploying all three sites, growing Gaia’s use as a leading flexibility platform, and supporting the Government's ambition to achieve Clean Power by 2030.”
Carol Kort, Executive Director for Project Finance at Rabobank, said: “Rabobank is delighted to finance Field's 125 MW / 250 MWh BESS portfolio, advancing the UK's energy transition targets. This transaction highlights our expertise in providing complex financing solutions across the entire renewable energy value chain. We look forward to partnering with Field in our mission to lead the transition to a future-proof energy system.”
Sylvan Jonker, Energy Sector Coverage – Renewables & Power at ING, said: “We are proud to have supported Field and its shareholder CVC DIF in the financing of their portfolio of BESS in the UK, which plays an important role in stabilising the UK's electricity grid. Investments in battery energy storage systems are vital for the energy transition and a testimony of ING’s dedication to triple new financing of renewable energy by 2025.”
Financial adviser, Elgar Middleton, and law firm, TLT, advised Field on the transaction.
[1] The Times, Data sourced from Wasted Wind website, Consulted March 2025.
Related Articles