TagEnergy gets to financial close on UK storage space site

Jan 25, 2023 01:44 PM ET
  • 49.9 MW Roaring Hill development in Fife, Scotland has actually been moneyed by Santander UK
TagEnergy gets to financial close on UK storage space site
Image: TagEnergy

International clean energy venture TagEnergy has gotten to financial close on its fourth UK battery storage center, the 49.9 MW/100MWh Roaring Hill development in Fife, Scotland.

TagEnergy achieved financial close while preserving 100% equity in the project after receiving financing from loan provider Santander UK.

Building will certainly currently commence on the facility that is expected to start running in Q1 2024 with the project's initial programmer, leading independent renewable resource firm RES, as asset supervisor.

TagEnergy obtained Roaring Hill from RES in September 2021.

The center will make use of a system of Tesla Megapack lithium-ion batteries, along with Tesla's Autobidder AI software for real-time trading and control.

Roaring Hill is the fourth TagEnergy battery energy storage space center to get to financial close and also the 4th to be supported by Santander UK financing given that the business went into the UK market in 2020.

TagEnergy's first project, Hawkers Hill Energy Park in Dorset, England, commenced operations in September 2022, while building is underway on Jamesfield, near Abernethy, Scotland, as well as Chapel Farm near Luton.

TagEnergy chief executive Franck Woitiez said the business's momentum showed its decision to speed up the change to a clean energy future.

He included: "When TagEnergy got in the UK market, our stated aspiration was to take advantage of our huge range battery experience to support the grid and speed up the energy transition.

" Little over a year later on, that aspiration continues to become truth as we prepare to provide our 4th facility at Roaring Hill.

" We delight in that Santander UK has once more recognised the value of our projects in boosting both the capacity of the grid as well as renewable's share of it as we aid satisfy a crucial demand for the market, homes, companies and the world."

Source:
renews.biz

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