Zenobe lands more funds to start building 100-MW battery in UK
Zenobe's 29-MW Aylesford facility. Source: Zenobe Energy Ltd
UK battery storage owner and operator Zenobe Energy Ltd has received more funds from Santander UK which it will use to start construction of a 100-MW/107-MWh energy storage facility in Capenhurst, near Chester.
Zenobe said in a statement today that the latest non-recourse debt facility takes its total investment from the bank to more than GBP 60 million (USD 84m/EUR 70m). It follows the successful raising of GBP 150 million in equity from Infracapital in 2020.
“The additional debt raised and committed will be crucial in allowing us to roll out this project and our future pipeline of battery energy storage projects across the UK,” said Nicholas Beatty, co-founder and director of Zenobe.
The company’s flagship project, estimated to cost tens of millions of pounds, will be “Europe’s biggest battery and the world’s first to absorb reactive power directly from the transmission grid,” it said. Completion is scheduled for April 2022.
The scheme is supported by a reactive power contract awarded by National Grid and a long-term route to market agreement with EDF Trading.