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Voltwise Power raised £153.9 million to acquire a 460MW battery energy storage system portfolio from Smart Metering Systems, completed in June 2025. The portfolio includes seven operational assets of 320MW/250MWh and four in development of 140MW/280MWh.

The acquisition covers SMS's entire battery business. Santander CIB acted as M&A adviser, while NatWest, Kommunalkredit, and Siemens Financial Services participated in the syndication. Voltwise's deal completion reflects lender confidence in the UK BESS sector, despite past concerns over Ofgem's energy storage scheme.

Over two-thirds of successful projects in the scheme utilized lithium-ion technology. The Energy Storage Summit will be held in London on 24-25 February.