finance

The cost of developing solar projects has increased in upwards of 50% as a result of the Electricity Generator Levy and inflation, Energy UK has said.

Zenobē Energy has started construction of a 300MW/600MWh battery energy storage project in Blackhillock, Scotland, following a £235 million long-term debt facility secured from five banks.

Zenobē secures £235 million to develop two battery energy storage projects in Scotland. The agreement also includes a £400 million accordion facility that will be used to debt finance expansions as well as future projects.

Solar could benefit from a new arrangement which has seen OVO Energy join Community Energy England as a principal supporter.

Independent power producer Conrad Energy has secured planning permission for a 15MW battery energy storage system (BESS) in Somerset.

Renewable investment company, Foresight Solar Fund, has released its Net Asset Value (NAV) and Trading update for Q4 2022 reporting a slight increase in its unaudited NAV and forecasting that inflation will offset downward pressure caused by the windfall tax.

Copenhagen Infrastructure Partners (CIP) and Amberside Energy have partnered to develop a 2GW portfolio consisting of solar and battery energy storage system (BESS) projects across the UK.

Close Brothers Leasing has signed an agreement with independent power producer (IPP), Conrad Energy, to provide £85 million in funding for eight battery energy storage sites (BESS) across the UK.

The UK’s newly introduced Electricity Generator Levy has seen Octopus Renewables’ net asset value (NAV) on its renewable portfolio decrease by £10.6 million as of 31 December 2023.

TagEnergy has confirmed it has reached financial close on its fourth UK battery energy storage facility with a capacity of 49.9MW/100MWh in Fife, Scotland.