With lithium-ion batteries raising ESG-related concerns, investors are increasingly seeing value in long-duration storage
Pulse secures £175m for UK storage projects
Pulse Clean Energy (PCE) has secured a three-year £175 million credit facility with a syndicate of banks - including Santander, UK Infrastructure Bank (UKIB), CIBC and Investec - to finance the development of energy storage projects across the UK.
The UKIB provided £62.5 million of the financing, with the commitment representing its first debt transaction in battery storage.
PCE has plans to invest a total of more than £1 billion in the deployment of more than 1GW of battery energy storage systems across 20 sites in England, Scotland and Wales over the next three years.
PCE’s plans include the conversion of several existing energy generation sites to BESS facilities.