Battery storage rollout needs £20bn government investment to support renewables goals
The battery storage rollout needs to continue its upwards trajectory, with increased government spending required, according to new data from Cornwall Insight.
Articles tagged with: Finance
‘Vital support’ on offer as net zero community energy fund launched by Northern Powergrid
A new fund targeted at tackling the barriers community energy groups face when getting projects off the ground has been launched by distribution network operator (DNO) Northern Powergrid.
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Increases in power price forecasts provide boost for Bluefield, Octopus Renewables
Bluefield Solar and Octopus Renewables Infrastructure Trust (ORIT) have detailed the continued impact of the high power prices seen across Europe in a lingering trend across the sector.
‘Considerable demand’ sees Gore Street raise double its target in £150m initial issue
Gore Street Energy Storage Fund has raised gross proceeds of £150 million from an initial issue, which is to be used to pursue its 1.3GW pipeline.
Downing extends £30m term loan with NatWest for UK solar portfolio
Downing LLP has completed the extension of a £30 million term loan facility with NatWest for a c.48MWp solar portfolio in England and Northern Ireland.
Field bags £46m in financing to build 110MW portfolio of battery storage assets
Battery energy storage company Field is to build a portfolio of four assets across the UK after securing financing from investment firm Triple Point Energy Efficiency Infrastructure Company (TEEC).
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The legal perspective: Howard Kennedy on what makes battery storage ‘bankable’
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The increasing capacity of battery energy storage systems (BESS) in the UK is leading to the development of new types of contractual arrangements, while financing is “developing at a rapid pace”, according to Jonathan Cohen, head of energy at law firm Howard Kennedy.
Gore Street proposes £75m fundraise to pursue 1.3GW pipeline
Gore Street Energy Storage Fund is looking to raise £75 million via the issue of 68,181,818 new ordinary shares to fund the acquisition and construction of a new pipeline.
Construction kicks off on 50MW TagEnergy and Harmony Energy battery storage site
Construction has commenced on a 49.5MW/99MWh standalone energy storage system following new funding from Santander UK.
Octopus Renewables looks to embrace merchant revenue amid high wholesale prices and strong results
Octopus Renewables Infrastructure Trust (ORIT) expanded its portfolio by 179MW over the last year, and is looking to capitalise on high commodity prices to continue its growth over the coming year.
£12m Santander facility to accelerate Anesco’s development pipeline amid European expansion plans
Anesco has secured a new £12 million revolving credit facility (RCF) from Santander UK to support the delivery of a pipeline of UK and European renewable projects.
Gore Street looks to further global expansion efforts as it eyes new fundraise
Gore Street Energy Storage Fund is eyeing changes that would allow it to invest a greater percentage of its assets into projects outside of the UK and Republic of Ireland.
Strong asset performance sends Downing Renewables & Infrastructure Trust’s profit above expectations
Downing Renewables & Infrastructure Trust (DORE) – which entered the UK solar market in 2021 – has recorded an operating profit of investments 16.9% above expectations as it continues to pursue UK opportunities.
Foresight to fund new solar and battery storage acquisitions with £150m Revolving Credit Facility
The acquisition and construction of new ground-based solar PV and battery storage projects by Foresight Solar is to be funded through a new three-year facilities agreement.
Macquarie funds 365MW UK solar portfolio refinancing with £275m debt investment
New debt financing of £275 million with a 13-year tenor is being provided by Macquarie for the refinancing of a UK solar portfolio totaling 365MW.
Bluefield Solar Income Fund earnings rise as it restrikes PPAs at ‘significantly higher levels’
Bluefield Solar Income Fund (BSIF) has seen its underlying earnings rise to £21.4 million as high power prices, investments into battery storage – with two-hour durations a possibility – and lower than expected irradiation all shaping H2 2021.
High irradiation drives strong solar generation for Foresight as it eyes further PV pipeline
Strong asset operational performance and above budget irradiation in the first half of 2021 resulted in generation from Foresight Solar Fund’s UK portfolio being 1% above budget over the last year.
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Triple Point Energy Efficiency Infrastructure Company secures £108m battery storage pipeline
Investment firm Triple Point Energy Efficiency Infrastructure Company has secured a £108 million pipeline of UK battery energy storage systems (BESS).
PODCAST: Solar PV set for seismic shift, the rise of non-lithium energy storage technologies
The Solar Media Podcast returns for another year at the forefront of the energy transition, starting 2022 by exploring solar PV’s push for a global manufacturing footprint.
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Meteoric growth in new solar farm planning in UK sees pipeline reach a staggering 37GW
After a transformational 2021 for UK solar, Solar Media's head of market research Finlay Colville reveals that the UK's solar pipeline now stands at a staggering 37GW, and explores the reasons behind such meteoric growth.
Gresham House lauds expected doubling of earnings as it eyes two hour duration batteries
Gresham House Energy Storage Fund is targeting a market share of c.25% to 30% in the UK and Ireland in 2022 following an increase in earnings over 2021.
Nippon Koei’s 100MW of UK battery storage to enter construction
Two UK battery energy storage systems (BESS) under development by Japanese engineering firm Nippon Koei’s Netherlands-based subsidiary have reached financial close.
PACE secures funding from Hitachi Capital Business Finance to expand portfolio
Solar and battery storage developer Pathfinder Clean Energy (PACE) has secured funding from Hitachi Capital Business Finance.
Solar among eligible tech for Mayor of London’s Warmer Homes energy efficiency scheme
The Mayor of London’s Warmer Homes scheme is to see £51 million spent on the rollout of energy efficiency technologies to low income London households.
NextEnergy Capital launches £500m solar fund with support from UK Infrastructure Bank
Investment manager NextEnergy Capital (NEC) has launched a £500 million subsidy-free solar fund, with up to £250 million to come from the UK Infrastructure Bank (UKIB).
RGREEN INVEST makes first step into UK market with investment into 110MW of battery storage
French investment management company RGREEN INVEST has made its first step into the UK market, investing in four greenfield battery storage plants
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Elgin Energy targets 5GW of solar plus storage by 2025 following £25m fundraise
Solar and storage developer Elgin Energy has raised £25 million, and will target an ambitious medium-term growth strategy.
Solar & Storage Live 2021: Day Two
The Solar Power Portal editorial team is reporting live from Solar & Storage Live 2021, bringing you all the insight, news and views from the show floor.
PODCAST: UK solar industry reflects on COP26, energy storage continues to accelerate
The renewables sector has now had a few weeks to digest the Glasgow Climate Pact and in this episode of the Solar Media Podcast, brought to you in collaboration with Solar Energy UK, we hear the verdict directly from those who were there at COP26.
Octopus looks to raise £73.9m as it eyes new asset pipeline
Octopus Renewables Infrastructure Trust (ORIT) has announced its intention to conduct a placing of up to 70,000,000 new ordinary shares to raise around £73.9 million.