SECTORS
Merin invests across a focused range of energy transition infrastructure sectors. Our sector coverage is intentional and reflects where we have the deepest expertise and the greatest conviction about long-term structural opportunity.
Battery Energy Storage Systems (BESS)
Battery Energy Storage Systems represent the anchor sector of the Merin platform. BESS has become a core enabling technology within the modern energy system, performing functions that were once the exclusive domain of gas-fired peaking plants and synchronous generation.
We target grid-scale storage assets that support system stability through frequency response and inertia services, enable greater penetration of intermittent renewable generation, and capture value from the increasingly volatile price dynamics of modern power markets.
The investment case for BESS is structural. As renewable penetration deepens, the demand for storage grows with it, and the value of well-sited, well-structured assets grows accordingly. We look for opportunities where the revenue stack is defensible, where the technology is proven, and where our capital and structuring capability can accelerate delivery and optimise long-term performance. BESS is not a transitional technology. It is a permanent and expanding feature of the modern energy system.
Powered Land
The energy transition is creating a new category of scarce infrastructure asset: land with existing grid connection, consented capacity, and proximity to established network infrastructure. As transmission queues lengthen and connection timelines extend across most major markets, the value of sites that can bypass these constraints has increased considerably.
Powered land is defined by its ability to accelerate project delivery, reduce development risk, and provide optionality where network access has become a binding constraint on new investment. Grid connection is no longer a commodity, securing a viable connection point can take years and add material cost to an otherwise viable project.
Merin invests in powered land opportunities where the underlying grid position is defensible, where the site can support a range of energy transition uses, and where our structuring capability can unlock value that a purely real estate or purely energy investor would not capture. As competition for viable connection points intensifies, well-positioned powered land will become an increasingly recognised and increasingly valued part of the transition infrastructure landscape.
Grid and Network Infrastructure
Grid constraint is one of the most significant structural obstacles facing the energy transition. Network bottlenecks are limiting the connection of new renewable generation, increasing system costs, and creating pockets of durable opportunity for investors who understand the underlying dynamics.
The challenge is not simply one of capacity. Ageing infrastructure, planning complexity, and the pace of electrification across transport, industry and the built environment are placing simultaneous pressure on networks that were not designed for the demands being placed on them. The gap between what the grid needs to do and what it currently can do is widening, and closing that gap requires sustained, patient capital.
Merin invests in infrastructure that alleviates network constraints, enhances system resilience, and supports the broader electrification of the economy. These assets play a critical and increasingly recognised role in the energy system — acknowledged as such by regulators, network operators, and the growing number of market participants competing for access to well-positioned grid infrastructure.
Hybrid Energy Systems
Integrated energy solutions combining generation, storage and grid interface are emerging as an important and distinctive asset class within the energy transition. By optimising the interaction between these components, hybrid systems can achieve performance and revenue outcomes that standalone assets cannot, capturing value across multiple market functions simultaneously and providing a more resilient operating profile across different market conditions.
The structural case for hybrid systems is strengthening as energy markets mature. Revenue stacking, system services, and the ability to respond dynamically to price signals all become more valuable as market volatility increases and the premium on dispatchability grows.
Merin engages with hybrid energy projects where the integration of technologies creates genuine structural advantage, where the revenue case is robust across a range of market scenarios, and where our capital and structuring capability can support delivery of the full system. We are not generalist infrastructure investors, we bring sector depth to hybrid opportunities that require it.
Energy Transition Infrastructure
Beyond our core sectors, Merin maintains an active and disciplined interest in the broader infrastructure supporting the transition to a low-carbon, decentralised energy system. The transition is not a fixed investment landscape, it is an evolving one, and new infrastructure categories with genuine structural characteristics will continue to emerge as technology matures, policy develops, and market structures adapt.
We approach this broader category selectively. Our interest is in assets and platforms where the transition tailwind is structural rather than policy-dependent, where the capital requirement suits our scale and capability, and where we can bring genuine sector insight to bear alongside our capital. We do not pursue adjacency for its own sake.
As the transition deepens, the definition of transition infrastructure will expand. Our platform is designed to engage with that evolution, on our terms, and with the same rigour we apply across our core sectors.