Energy infrastructure platform Revera Energy has completed an extended US$150m (£110m) credit facility to accelerate the development of at least 1GW/2GWh of late-stage battery energy storage (BESS) systems in the UK.
The first project, a 200 MW BESS, is expected to start in the first quarter of 2026.
Two additional projects are expected to follow in the next twelve months, with a combined output of 800 MW. Both projects have already secured ground, grid connections and capacity market contracts.
The UK projects aim to strengthen the resilience of the electricity grid and tackle transmission bottlenecks that prevent stranded Scottish wind generation from reaching demand centers in England.
Additionally, the funding will also accelerate the development and construction of BESS, solar PV and green hydrogen projects in Australia.
“This financing enhancement accelerates Revera’s ability to capitalize on increasing demand in Australia and Britain for grid-scale storage and renewable energy generation capacity, supporting its continued progress as a leading player in the sector,” said Richard Hoskins, chairman of Revera Energy and managing director of Carlyle’s Infrastructure Group.
The Carlyle-backed energy infrastructure platform was founded last year with a focus on Great Britain and Australia. It started with splitting out assets from sustainable energy developer Amp Energywhich is also backed by the American multinational investment company Carlyle.
The expansion of the facility with Japanese financial services firm Nomura as sole bookrunner and lead arranger reflects institutional confidence in Revera’s development capabilities in two of the world’s top five battery storage markets, the company said.
This article was first published on our sister site Energy storage.news.
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