UK developer secures $470m for 146 MWh battery, solar portfolio

British Solar Renewables has reached financial close on a 12-project solar portfolio featuring three co-located battery energy storage systems (BESS).
British Solar Renewables has secured financial close on 12 solar sites, three of which have co-located BESS. | Image: British Solar Renewables

British Solar Renewables has secured GBP 345 million ($471 million) for 12 solar projects and three co-located batteries. A company spokesperson told pv magazine the assets comprise 73 MW/146 MWh of BESS and 536 MW of solar generation capacity.

Securing financial close represents one of the largest hybrid portfolio finance deals in the United Kingdom’s renewables sector, according to British Solar Renewables. The developer also explained that one site included in the deal is located in Australia – a solar asset with circa 37 MW of capacity.

Five of the 12 solar sites are currently operational, the developer confirmed, with the remainder either in construction or expected to be under construction by the end of 2025.

Financing was secured as a flexible debt facility and was provided by a consortium of banking partners including Lloyds Bank, NatWest, Commonwealth Bank of Australia, and Landesbank Baden-Württemberg.

In a press release, Michael Ozersky, chief investment officer at British Solar Renewables, described the deal as a “landmark transaction” and a major milestone for the business.

“This financing highlights the strength of our [co-location] strategy and our innovative approach to delivering clean, reliable power at scale,” said Ozersky.

From pv magazine International.

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