TagEnergy has secured financing for its Pitkevy battery storage project in Scotland.
The project, boasting a capacity of 49.9MW/99.8MWh, is financed through a loan package of up to £70 million from Santander UK, Rabobank and Triple Point.
Construction is underway, with completion expected by the end of 2024.
Franck Woitiez, Chief Executive Officer, TagEnergy said: “We are proud to leverage this landmark debt package – secured without a revenue floor under our innovative financing model – to bring another facility to life as we work to add stability to the grid and accelerate the energy transition towards net zero.”
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