Close Brothers’ Energy team funds construction of new battery energy storage system
Close Brothers has provided funding for the construction and operation of Unibal’s latest battery project in Kilwinning, Scotland
The 27MW BESS (battery energy storage system) will operate on a four hour system storing 108MWh of excess energy until called upon to provide critical grid services.
These energy storage systems are crucial to the UK energy transition helping address the intermittency of renewable power by supporting grid stability, improving energy resilience and making better use of renewable power.
Richie Kidd, Head of Deal Execution for the Energy team at Close Brothers, said: “It was great to work with the team at Unibal having had an existing relationship with the shareholders going back a number of years. Kilwinning represents the third BESS project for Unibal’s growing portfolio, alongside two similar operational projects, also in Scotland.
“We are proud to continue our long history of supporting energy projects throughout the UK and across the various asset classes.”
David Fyffe, Managing Director of Unibal, added: “We are delighted to have reached financial close on another project with Close Brothers.
“Having experienced first-hand the professionalism of the Close Brothers Energy team, we have forged a strong partnership and look forward to getting the project constructed and generating revenue.”
Products and services are subject to eligibility, status, terms and conditions, and availability. All lending is subject to status and lending criteria. The right to decline any application is reserved.
