Helios and Clal Insurance Put 160 Million Shekels Into UK Energy Storage

Helios Fund and Clal Insurance are investing 160 million shekels in a partnership that aims to build a portfolio of battery storage projects in England with a combined capacity of 500 megawatt hours by 2029. The partnership was set up by Helios together with British company Voltria, which specializes in battery energy storage.

The partners plan to raise a total of 1 billion shekels, through equity and debt, to buy and develop the planned portfolio. Voltria is serving as the on-the-ground developer, while Helios manages the partnership and is the anchor investor. The first project, with a capacity of 86 megawatt hours, is already in an advanced stage of construction and is being developed with Rolls-Royce. It is expected to connect to the grid in the coming months.

Three additional projects are in advanced due diligence. They are expected to be connected to the British electricity grid over the next two years. The investment comes as energy storage in England gains momentum amid government policy supporting renewable energy expansion and more flexible grid infrastructure, with the goal of reaching a power grid that is 95% green.

To reach that target, Britain plans to more than sextuple total storage capacity from 5 gigawatts at the start of 2025 to about 33 gigawatts by 2030. For Clal Insurance, the deal adds to its global energy infrastructure portfolio, which includes investments in natural gas power generation and renewable energy in Europe and the United States.