FRV secures financial close with NatWest for 7.5 MW/15MWh Holes Bay battery

• Fotowatio Renewable Ventures (FRV) has efficiently shut financing for a non-contracted profits design for its 7.5 MW/15MWh Holes Bay battery project.

This closing has actually been completed with NatWest, which is to supply non-recourse financing for a non-contracted profits model, making the project one of the very first in the sector under this framework in the UK and worldwide.

"This transaction strengthens the long-term sustainability of our company version and also our leadership placement in the market. This way, we are setting the course for the rest of FRV's possessions in the country, which remain in the business procedure, building and construction and development phase," stated Felipe Hernandez, global head of FRV-X.

Holes Bay-- which was developed in collaboration with Harmony Energy-- has actually functioned because June 2020, with the second site in FRV's collaboration with Harmony-- the 34MW/68MWh Project Contego-- also lately getting in procedure.

Building has actually likewise started on FRV as well as Harmony Energy's 99MW/198MWh Clay Tye site. All 3 of the sites utilize Tesla Magapack lithium-ion battery storage space system modern technology.