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Energy Rev monthly round-up & snap analysis: February 2023

First signs that UK battery market may have peaked, while investment opportunities are starting to emerge elsewhere in Europ

The UK’s utility scale battery storage market has evolved relatively rapidly in recent years, from a niche sub-sector attracting limited investor interest into a burgeoning multi-GW space which has now drawn in institutional capital from across the globe. Indeed, a medley of Canadian pension fund investors are now backing UK battery developers, while UAE-based Masdar also got in on the act in October 2022 when it acquired Arlington Energy. 

And certainly, battery storage owners in the UK had a stellar year in 2022, with market volatility and power price spikes leading to multiple high revenue streams. This in turn has further fuelled investor appetite for the sector.

However, there is a growing sense that the market for UK battery storage assets has now reached its peak, with a number of factors potentially set to lead to a reduction in valuations in coming months. 

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