Atlantic Green and Nofar Energy’s storage platform in the UK has secured £152m for a 300MW/624MWh battery storage project in the UK.
The Cellarhead battery energy storage system (BESS) project, near Stoke-on-Trent, in north-west England, will be connected to National Grid’s 400kV Cellarhead substation.
The financing is being provided by a lender consortium including Goldman Sachs, Santander, Bank Hapoalim and Bank Leumi.
It was arranged by Goldman Sachs acting as structuring bank, mandated lead arranger and lender on the financing.
Atlantic Green chief executive Oleg Vorobeichik said: “The Cellarhead project exemplifies Atlantic Green’s dedication to enabling a sustainable energy future in the UK. This financing is a testament to the confidence our financial partners have in our mission to build an energy system that not only meets demand but also drives the transition to renewables.
“We are proud to play a role in securing the UK’s grid reliability and supporting its clean energy goals.”
Goldman Sachs managing director Justin Lomheim added: “Cellarhead represents an important project in the UK’s battery storage pipeline.”