funding

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.

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.

Triodos Bank UK is launching a £4.7 million community renewable energy bond offer through its crowdfunding platform for Empower Community Foundation, which owns two solar farms.

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 has commenced on a 49.5MW/99MWh standalone energy storage system following new funding from Santander UK.

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.

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.

The Solar Skills London project, which provides funding for training in solar PV, energy storage and low carbon technologies, has extended the deadline for applications.

TagEnergy has started construction on a £16 million 20MW/40MWh battery storage facility following Santander financing.

Thermal energy storage firm Sunamp has been awarded over £396,000 from SP Energy Networks’ Green Economy Fund to deliver micro-district heating networks.