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Close Brothers Leasing funds large battery energy storage system

Close Brothers Leasing announced it has provided a development loan for Pacific Green Technologies’ 99.98 MW battery energy storage system (“BESS”) at Richborough Energy Park in Kent. The funding will be used for the construction phase of the BESS.

Pacific Green Technologies Group is a world leading provider of sustainable cleantech solutions aimed at solving climate warming, green energy and resource scarcity challenges.

James Sutcliffe, Managing Director of Close Brothers Leasing’s Energy team, said: “We are thrilled to participate in this ground-breaking project finance scheme on one of the UK’s largest battery energy storage systems and we look forward to working with Pacific Green on this project and the rest of their 1.1 GW UK pipeline.”

Scott Poulter, Pacific Green’s Chief Executive, added: “Bankable projects such as Richborough Energy Park are the cornerstone of Pacific Green’s ‘ODCO2 Energy Development Platform’, which specialises in developing and operating optimized, turnkey renewable energy and storage parks across their entire lifecycle.”