Battery storage developer and operator Spearmint Energy has closed a US$450 million financing to support its 300MW/600MWh Red Egret battery energy storage system (BESS) project.
Independent power producer (IPP) Sunraycer Renewables has closed a US$901 million project financing facility, supporting three solar-plus-storage projects in Texas, US.
Lenders are increasingly willing to back large-scale BESS projects in Germany that don’t have any contracted revenues, although that merchant risk is priced in to structures, an executive at Aquila Clean Energy EMEA said.
Large-scale BESS projects have been progressed to construction, financing or operations across the EU this week, by project owners, investors and EPC firms re:cap, LONGi, Teos, Flower, Goldbeck Solar, SPP and Tavion.
There’s been progress on several large-scale BESS projects in the UK, with Matrix Renewables securing financing for its Eccles project and BW ESS enlisting EDF to optimise its Hams Hall one; plus smaller announcements.
NGEN and Harmony Energy have made strides in deploying large-scale BESS projects in Germany, launching construction and securing pipeline financing respectively.
In this US news roundup, we have financing updates for GridStor, Arevon, and Primergy, related to energy storage projects in Texas, California, and Nevada, respectively.
Another busy week of BESS news from across Europe, with investors and owner-operators ABO, Field, Aspiravi, Prime Capital, Latvenergo, Sonnedix and Amarenco progressing large-scale projects across Europe.
