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.
Indeed, the company has plans for further international expansion, first to Germany and then the Netherlands. It said it is targeting further growth in these markets and more widely throughout Europe, with this to be both organic and through acquisition.
The company recently energised a 56MWp portfolio of solar farms for Shell Renewables and Energy Solutions in the Netherlands – the first of Anesco’s projects outside of the UK.
Anesco currently has five battery storage projects and three solar farms at the ready-to-build stage, with the battery projects – located in Dundee, Melksham, Nottingham, Ipswich and Essex – to be operational by spring 2023.
The solar farms, meanwhile, are located in England and south Wales, and are due to start operating this year.
Following the Reading-headquartered company increasing its staff by 20% over the past nine months to 200 in the UK, Anesco is now anticipating that it will grow this number by a further 20-30% over the next two years, with roles based across the UK, Netherlands and Germany.
Mark Browning, chief financial officer at Anesco said: "We are contracted to deliver large scale solar and energy storage projects over the next 12 months and Santander UK’s support will not only make the delivery of these projects possible but accelerate our development pipeline by enabling us to bring more renewables projects to market in the UK, as well as supporting our growth in Europe.”
Santander has provided funding to a number of battery storage companies in recent years, including a £6.4 million funding package to TagEnergy, over £60 million in total to Zenobē and a £15 million RCF to Gore Street Energy Storage Fund.