UK developer Pulse Clean Energy secures US$215 million for BESS pipeline

May 25, 2023
LinkedIn
Twitter
Reddit
Facebook
Email

Developer Pulse Clean Energy has secured a three-year £175 million (US$215 million) credit facility with a number of banks to go towards its pipeline of battery storage projects in the UK.

The firm, formerly called Green Frog Power until a post-acquisition rebranding last year, secured the facility from a syndicate of banks including Santander, UK Infrastructure Bank, CIBC and Investec.

The money will go towards the firm’s 1GWh pipeline of battery energy storage system (BESS) projects in the UK market. This year it acquired 90MW of projects in Stafford and Aberdeen and a 72MW project in Manchester in two separate deals.

“We are delighted to have completed this financing to aid in the continuing delivery against our ambition to build 1GW+ of energy storage and stability assets.” said Nicola Johnson, chief financial officer at Pulse Clean Energy. “We are look forward to building on the relationships with our syndicate banks.”

This article requires Premium SubscriptionBasic (FREE) Subscription

Enjoy 12 months of exclusive analysis

Not ready to commit yet?
  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Annual digital subscription to the PV Tech Power journal
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

In January, the company tied up with solar PV and battery storage firm Canadian Solar for the latter to supply 550MWh of its grid-scale solution for Pulse’s projects.

Pulse was acquired by the Investment Management Corporation of Ontario (IMCO), a Canadian institutional investor with $73 billion assets under management, in late 2021.

The financing announced this week was structured by CIBC as sole financial advisor, while Eversheds acted as borrower legal counsel with Ashurst as lender counsel. Consulting firm Baringa acted as market advisor with Everoze and Fitchner as technical advisor and Operis as model auditor.

Read Next

October 17, 2025
Powerlink Queensland is seeking federal approval for transmission infrastructure connecting AGL Energy’s 2,000MWh Tuckeroo battery energy storage system (BESS) to the Western Downs Substation in Australia.
Premium
October 16, 2025
How you approach fire safety risk management in BESS was a big talking point yesterday at the Battery Asset Management Summit UK & Ireland 2025.
October 16, 2025
Spanish utility Iberdrola has acquired the 270MW/1,080MWh Tungkillo battery energy storage system (BESS) in South Australia from RES Group.
October 15, 2025
The value of developers and optimisers in the BESS lifecycle, thinking about long-term risk and KPIs for maximising the asset have been key themes at the Battery Asset Management Summit UK & Ireland 2025.
October 14, 2025
According to a new report from the US Energy Storage Coalition (ESC), PJM faces an urgent near-term requirement for affordable capacity to accommodate large loads expected through 2032.

Most Popular

Email Newsletter