Foresight Group has acquired a German battery energy storage systems (BESS) developer on behalf of its mid-market energy infrastructure fund.
The firm has invested an unspecified amount to acquire Mirai Power for Foresight Energy Infrastructure Partners II (FEIP II).
Established in 2024, Mirai specialises in the development, construction and operation of large-scale battery storage assets across Germany. Mirai has established a 12.5GW project pipeline.
Following an investment from Foresight, the company’s founding leadership will oversee a geographic expansion strategy into key international markets outside of Germany.
Richard Thompson, partner at Foresight and co-manager of FEIP II, said: “Battery energy storage is a critical enabler of the energy transition, providing the flexibility and resilience required as power systems decarbonise.
“Mirai has built an impressive platform in a highly competitive market, combining technical expertise with a strong pipeline of high-quality projects. We are pleased to partner with the team and support the next phase of growth as the business scales across Germany and beyond.”
Marco Frascati, managing director and co-founder of Mirai Power, said: “The investment from Foresight marks an important milestone in Mirai’s growth. It enables us to move forward with the project pipeline we have developed in Germany and to continue our rapid expansion.
“At a time when BESS is booming globally and some markets are beginning to consolidate, this partnership strengthens our ability to execute our strategy of developing, implementing and operating our projects. We will continue to focus on markets with strong medium and long-term fundamentals for flexibility services, while also actively exploring innovative business models and emerging technologies.”
To read the latest IPE Real Assets magazine click here.
