Pulse Clean Energy has secured £220m in green financing from a consortium of six international banks to accelerate UK battery storage development.
Santander, NatWest, ABN AMRO, NORD/LB, Investec and CIBC are backing the programme, which will fund the construction of six ready-to-build battery energy storage system sites, including four converted from former diesel generator plants.
The projects will total more than 700MWh of capacity and are expected to generate over £200m in gas and emissions savings during their lifetime, alongside enabling greater integration of wind and solar power.
Pulse Clean Energy chief financial officer Nicola Johnson said the investment reflected “strong global confidence” in the UK battery storage market.
“These six facilities will not only strengthen grid resilience but also unlock significant cost savings for consumers by allowing more renewable power onto the grid and reducing the need for expensive backup power during peak periods,” she added.
All sites financed through the deal are due to be operational by the end of 2027.
Santander CIB served as green loan coordinator for the transaction, which was structured in line with the Loan Market Association’s Green Loan Principles.