31/10/2025
Ethos Green Energy today confirms that nine of its long-duration energy storage sites are to be developed under a new joint venture between Frontier Power and Cerberus Capital Management, a global infrastructure investor.
The arrangement provides committed capital to progress all nine sites — each rated at 200 MW, 8 hours and 1,600 MWh — through to development, regardless of the outcome of Ofgem's Cap and Floor award process.
The joint venture, which has secured an initial £44 million investment from Cerberus as part of a broader commitment of up to £159 million, is focused on advancing long-duration storage projects under the UK's Cap and Floor regime. The nine Ethos sites represent the initial focus of that deployment.
The commitment to develop all nine sites is significant. Sites that do not receive a Cap and Floor award in the current window will be entered into the next Ofgem round, ensuring the full portfolio continues to progress. The arrangement also creates a framework to bring additional sites from the Ethos portfolio into the programme in the future.
Simon Wragg, CEO of Ethos Green Energy, said:
"This is certainty at scale: nine sites, 14,400 MWh, moving forward regardless of the Cap and Floor outcome. A strong platform for what's next."
About Ethos Green Energy
Established in 2021, Ethos Green Energy is a UK renewable energy developer with more than 16GW of projects across 25 locations. The company develops large-scale renewable energy energy infrastructure and storage projects and is one of the UK's largest developers by transmission connection capacity.
For media enquiries
Simon Wragg, CEO
Ethos Green Energy
Email: simon@ethosgreenenergy.com
