Atlantic Green, a joint venture between Israeli renewables developer Nofar Energy Ltd and energy storage investor Interland, has secured GBP 152 million (USD 192.7m/EUR 182.1m) in financing for the development of a 300-MW/624-MWh battery energy storage system (BESS) in the UK.
The financing package was provided by a consortium of banks, including Goldman Sachs, Santander, Bank Hapoalim, and Bank Leumi, with Goldman Sachs serving as the sole structuring bank, mandated lead arranger, and lender. UK law firm Burges Salmon assisted in arranging the deal.
The Cellarhead BESS project will be located about 5 miles northeast of Stoke-on-Trent, Staffordshire, and will connect to National Grid's 400-kV Cellarhead substation.
US-based Ameresco has been awarded the battery supply and installation contract for the project.
The project represents a significant step in the UK's efforts to enhance grid flexibility and support the transition to renewable energy, underscoring growing interest in large-scale energy storage solutions.
