The BESS assets are strategically located across England and Wales, with seven projects situated on land adjacent to key substations – making it easier for electricity to be transmitted directly into the National Grid. The assets will utilise 2.7-hour batteries with a total 612MW (1,652MWh) capacity that will help to maximise revenue and operational efficiencies.
“This groundbreaking BESS financing deal is a prime example of the pioneering renewable energy projects that we deliver at NORD/LB” said Florian Hock, Senior Director at NORD/LB. “The BESS portfolio is the largest ever financed in Europe, and we’re thrilled to have worked alongside Constantine Energy Storage on this very important project that will significantly boost the UK’s energy storage capabilities.”
The UK has made battery energy storage systems a key part of its renewable strategy, with the aim of increasing BESS capacity to 30 GW by 2030. The assets incorporated within this deal will meaningfully and substantially bolster UK energy storage ambitions, helping to fast-track its overarching renewable energy transition objectives in the process.
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