TagEnergy Powers Up Pitkevy: Scotland's Sixth BESS Project
- TagEnergy's Pitkevy BESS project in Fife, Scotland secures financial close with a £70m green loan package, partnering with industry leaders for grid stability and net zero emissions.
TagEnergy has secured financial close on its Pitkevy battery energy storage system (BESS) project in Fife, Scotland, marking its sixth project in the UK. The 49.9MW/99.8MWh facility was financed through a £70m green loan package from Santander UK, Rabobank, and Triple Point, with Tesla providing the battery system and RJ McLeod handling installation. Flexitricity and RES are partners for market access and asset management, respectively.
The project, part of TagEnergy's innovative financing model without a revenue floor, aims to enhance grid stability and support the transition to net zero emissions. The Lakeside facility, also financed under the same package, involved a range of advisors and partners to bring the project to fruition. CEO Franck Woitiez expressed pride in expanding TagEnergy's UK portfolio to 320MW and working towards a sustainable energy future.
What partners and financing were involved in TagEnergy's Pitkevy BESS project in Scotland?
- Santander UK, Rabobank, and Triple Point provided a £70m green loan package for the Pitkevy BESS project
- Tesla supplied the battery system for the facility
- RJ McLeod was responsible for the installation of the BESS project
- Flexitricity is a partner for market access for the project
- RES is responsible for asset management of the Pitkevy BESS project in Scotland
