What Fig Power does

Fig Power is a UK-based battery energy storage system (BESS) project developer that designs, builds and operates utility-scale energy storage assets. Founded in 2022 as a spin-out from Hydrock Consultants with BGF (Business Growth Fund) backing, the company was acquired the same year by The Renewables Infrastructure Group (TRIG), a FTSE 250-listed investment company focused on renewable energy infrastructure. Fig Power operates as TRIG's wholly-owned development arm, executing a 1.7 GW pipeline of grid-connected battery storage projects in the UK market. The company is headquartered in Bristol and runs a small specialist team that spans project management, engineering and finance functions, with regional coverage including a Scotland team.

The company's single core product is utility-scale BESS infrastructure covering the full development lifecycle — from technical due diligence, grid-connection applications and land lease negotiation, through planning consent, construction and into operations. Revenue is generated through three channels once assets reach commercial operation: wholesale energy trading (arbitrage), ancillary services sold to distribution and transmission network operators for grid stability, and capacity market participation through UK capacity auctions. The company partners with tier-one battery suppliers for technology integration, with DNO/TNO grid operators for connection access, and with landowners for site leases.

The go-to-market model is B2B enterprise development rather than product sales. Fig Power's primary customer is its parent TRIG and broader institutional investor base seeking exposure to UK battery storage infrastructure returns. Ancillary stakeholders — landowners (lease counterparties), DNOs/TNOs (off-takers of ancillary services), tier-one battery suppliers (vendors) and renewable developers (potential co-location partners) — participate in the project development value chain rather than as paying end customers. Planning-consultancy partners (Gillespies) support consenting for specific projects. No retail channel, self-serve product or pricing transparency exists; all arrangements are bespoke, project-based and governed by long development lead times tied to UK grid and planning processes.

Name

Fig Power

Legal name

Fig Power Limited

Website

https://figpower.co.uk

Company type

Private

Founded year

2022

Operating status

Operating

Headcount range

1–10 employees

Short description

Fig Power is a UK-based battery energy storage system (BESS) project developer that designs, builds and operates utility-scale grid storage assets. A wholly-owned subsidiary of FTSE 250-listed TRIG, it advances a 1.7 GW pipeline serving institutional investors and the UK grid.

Ownership category

akta.pro rank

Product category

Battery Energy Storage Development

NAICS

Electric Power Generation (22111)

SIC

Electric Services (4911)

akta.pro primary industry

Utility-Scale BESS Project Development & Ownership (IPP/Developer) (EUAFAAAA)

akta.pro secondary industries

BESS EPC, Integration & Commissioning (EUAFAAAB), BESS Operations, Maintenance & Asset Performance Management (APM) (EUAFAAAG), BESS Market Participation & Trading Services (Ancillary/Capacity/Arbitrage) (EUAFAAAL), BESS Grid Interconnection, System Studies & Grid Code Compliance (EUAFAAAJ)

Keywords

• Battery energy storage
• Grid-scale BESS
• Renewable integration
• Energy storage development
• Capacity market services

Headquarters

HQ city

Bristol

HQ country

United Kingdom

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Supply Chain

Revenue model

1. Energy Trading: Revenue generated through energy trading activities using battery storage assets
2. Ancillary Services: Revenue from providing grid stability services and ancillary services to network operators
3. Capacity Markets: Revenue generated through participation in capacity market auctions, providing guaranteed capacity to the grid

Go-to-market motion1 record

Distribution channels2 records

Marketing channels2 records

Core offering

Fig Power is a UK-based energy project developer that designs, builds, and operates utility-scale Battery Energy Storage Systems (BESS). The company manages the full project lifecycle—from securing grid connections, negotiating land leases, and obtaining planning consent, through construction to operating assets—generating revenue via energy trading, ancillary services to network operators, and capacity market auctions. It operates as a subsidiary of The Renewables Infrastructure Group (TRIG) with a 1.7 GW development pipeline.

Product overview

Fig Power offers a single, unified product line focused on Battery Energy Storage Systems (BESS). Their end-to-end service covers the complete project lifecycle—from conducting technical due diligence and securing grid capacity, through negotiating land leases and obtaining planning consent, to delivering construction and operating the assets. The company develops, builds, and operates utility-scale BESS projects as part of its 1.7 GW development pipeline, with assets delivering value through energy trading, ancillary services, and capacity markets. Fig Power is a subsidiary of The Renewables Infrastructure Group (TRIG) and functions as a project development and asset management company rather than a software platform.

Differentiator

Problem solved

Functional benefit

Products and services

• Battery Energy Storage Systems (BESS) Utility-scale battery storage infrastructure developed, built and operated by Fig Power for grid optimization, renewable energy integration, energy trading, ancillary services and capacity market participation. Targeted at institutional investors, landowners, network operators and renewable developers seeking high-performance storage assets.

Quantifiable outcome

• 1.7 GW pipeline of battery storage developments
• +1 more outcomes

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Five partnerships are on record, tiered core and supporting.

• Distribution Network Operators (DNOs)coreStrategic or Co-development PartnerFig Power maintains strong relationships with distribution network operators to streamline processes and secure efficient, cost-effective grid connections with credibility and reliability.
• Transmission Network Operators (TNOs)coreStrategic or Co-development PartnerEngagement with transmission network operators to secure grid capacity and facilitate connection to the national grid infrastructure.
• Tier One Battery SupplierscoreTechnology or IntegrationFig Power nurtures long-standing relationships with tier one battery suppliers to ensure delivery of integrated battery technology to consented sites.
• LandownerscoreStrategic or Co-development PartnerFig Power partners with landowners to develop battery storage sites, negotiating land lease terms that ensure flexibility and commercial protection.
• G-S (Gillespies)supportingImplementation/ SI/ Consulting PartnerGillespies serves as Fig Power's planning consultants, managing consultation responses for specific projects including planning applications and public consultation processes.

Scale indicators5 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Arenko: UK-based battery storage developer and software-enabled optimiser. Comparable as a UK BESS developer competing for grid connections, with overlap in trading and ancillary services revenue capture.
• Aura Power: Developer of renewable energy and battery storage projects in the UK and internationally. Comparable developer of utility-scale BESS with similar institutional investor and landowner partnerships.
• Field (Battery Renewable Assets): UK battery storage developer and investor with operational and pipeline assets. Directly comparable UK-focused BESS development business targeting similar trading, ancillary and capacity market revenues.
• Harmony Energy: UK-based developer and operator of utility-scale battery energy storage projects. Directly comparable as a UK BESS pure-play competing for the same grid capacity, planning permissions, and institutional capital.
• Penso Power: UK BESS project developer with a multi-GW pipeline and similar focus on grid-scale battery storage. Comparable business model, customer base (institutional investors), and revenue stack across trading and ancillary services.
• Low Carbon: UK renewable energy developer with significant solar and battery storage development activity. Comparable as a UK-based, multi-technology renewable infrastructure developer serving institutional capital.

Regional players

• Enertrag: European renewable energy developer with battery storage capabilities, primarily active in Germany and broader Europe. Comparable as a utility-scale BESS developer in adjacent European geographies.

Broad incumbents

• Gore Street Energy Storage Fund: London-listed investment company focused on UK and international BESS assets. Comparable as a TRIG-like institutional capital vehicle investing in UK battery storage, with overlapping investor base and revenue model.
• Gresham House Energy Storage Fund: Listed investment fund dedicated to UK BESS assets, generating revenues through trading, ancillary services and capacity markets. Comparable as a publicly-listed capital pool for UK battery storage with the same revenue architecture.
• Fluence Energy: Global energy storage technology and integration provider. Comparable through its UK BESS EPC and asset management activities, and a likely tier-one battery supplier partner of Fig Power.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Fig Power