Real assets manager Foresight has invested in Mirai Power, a German battery storage provider through its Foresight Energy Infrastructure Partners II fund.
The fund, which represents the second iteration of Foresight's flagship infrastructure vehicle, launched in 2025 and has to date secured £1.64 billion in commitments, including investments from the LGPS Pool Border to Coast and the Irish National Treasury Management Agency, according to Preqin.
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Mirai, established just two years ago, has originated a 12.5GW project pipeline in Germany, focusing on transmission-connected assets alongside selected distribution-level projects. The company will continue to be led by its founding team and plans to leverage Foresight's backing to expand into other key international markets.
The investment aligns with FEIP II's long-term ambition to establish a pan-European Independent Flexibility Provider and closely matches the fund's strategy of investing in high-growth, early-stage infrastructure platforms, according to Richard Thompson, Partner at Foresight and Co-Manager of FEIP II.
"Battery energy storage is a critical enabler of the energy transition, providing the flexibility and resilience required as power systems decarbonise," Thompson said. "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."
The German market for battery storage has grown significantly in recent years with stationary batteries reaching some 18.2 GWh as of 2025, according to Montel Energies. Market volumes are expected to double in the next five years from some $9bn today to more than $21bn by the early 2030s, according to Fortune Business Insights.
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