Global clean energy enterprise TagEnergy has reached financial close on its fourth UK battery storage facility, the 49.9MW/100MWh Roaring Hill development in Fife, Scotland.
TagEnergy attained financial close while retaining 100% equity in the project after receiving funding from lender Santander UK.
Construction will now commence on the facility that is expected to begin operating in Q1 2024 with the project’s initial developer, leading independent renewable energy company RES, as asset manager.
TagEnergy acquired Roaring Hill from RES in September 2021.
The facility will use a system of Tesla Megapack lithium-ion batteries, together with Tesla’s Autobidder AI software for real-time trading and control.
Roaring Hill is the fourth TagEnergy battery energy storage facility to reach financial close and the fourth to be supported by Santander UK funding since the business entered the UK market in 2020.
TagEnergy’s first project, Hawkers Hill Energy Park in Dorset, England, commenced operations in September 2022, while construction is underway on Jamesfield, near Abernethy, Scotland, and Chapel Farm near Luton.
TagEnergy chief executive Franck Woitiez said the company’s momentum reflected its determination to speed the shift to a clean energy future.
He added: “When TagEnergy entered the UK market, our stated ambition was to leverage our large scale battery expertise to support the grid and accelerate the energy transition.
“Little over a year later, that ambition continues to become reality as we prepare to deliver our fourth facility at Roaring Hill.
“We are pleased that Santander UK has once again recognised the value of our projects in increasing both the capacity of the grid and renewable’s share of it as we help meet a critical need for the industry, homes, businesses and the planet.”