England-based Pulse Clean Energy, a company building a secure and renewable energy infrastructure, has secured £220M (nearly €252.50M) in green financing from a group of six international banks.

The financing was structured under the Green Loan Principles of the Loan Market Association. Santander Corporate & Investment Banking acted as the Green Loan Coordinator. The banking consortium includes Santander, NatWest, ABN AMRO, NORD/LB, Investec, and CIBC.

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This deal represents one of the UK’s largest private debt deals for battery storage projects.

Javier Trueba, MD at Santander CIB, says, “This transaction reinforces Santander Corporate & Investment Banking´s commitment to supporting the energy transition in the UK, in particular focusing on facilitating the construction of battery storage as a key infrastructure component of that transition.”

“We are proud to have supported Pulse Clean Energy in this exercise, whose vision, determination, and technical expertise underpin this very high-quality portfolio.”

Capital utilisation

Pulse Clean Energy will use the financing to develop six battery energy storage system (BESS) sites and convert existing diesel sites to BESS assets. The funds will also support nine sites that are either operational or nearing completion.

The sites are located in multiple regions across the UK, including Scotland, Devon, Greater Manchester, and Wales.

The six new BESS projects by Pulse Clean Energy will add over 700MWh of capacity to the UK grid. Over their operational life, these projects are expected to generate over £200M in gas and emissions savings for UK consumers.

In addition to direct savings, the projects will support the integration of wind and solar power by providing grid flexibility. This will help reduce consumer energy costs, lower dependence on imported gas, and support energy system stability across the UK.

Nicola Johnson, CFO of Pulse Clean Energy, says, “This landmark investment reflects strong global confidence in the growing UK battery storage market and in Pulse Clean Energy’s ability to deliver at scale. These six facilities will not only strengthen grid resilience but also unlock significant cost savings for consumers by allowing more renewable power onto the grid and reducing the need for expensive backup power during peak periods.”

“We’re proud to be at the heart of the UK’s energy networks – delivering critical infrastructure and turning former fossil fuel sites into energy assets which will enable a better energy system. With the backing of partners who share our long-term vision, we’re accelerating toward a future where energy is not only clean, but reliable and affordable for everyone.”

The battery energy storage systems funded through this deal are expected to be operational by the end of 2027.

Balancing the clean energy networks

Founded in 2022 and led by CEO Trevor Wills, Pulse Clean Energy develops, builds, and operates Battery Energy Storage Systems to support the integration of renewable energy by balancing supply and demand on the grid. 

The company is also investing in technologies that provide grid stabilisation services, including synchronous condensers projects that deliver inertia and reactive power.

As part of the UK’s net-zero strategy, Pulse Clean Energy is converting nine diesel generation sites into battery storage and optimisation facilities. The company uses a data-led approach to respond to changing energy system needs and works in partnership with government, industry, lenders, and communities to support the energy transition.

Shift in investor support

The National Energy System Operator (NESO) projects the UK will need at least 50GW of energy storage power and nearly 200GWh of capacity by 2050, requiring a four- to fivefold increase by 2030. Pulse Clean Energy’s new financing supports its efforts to secure a share of this growing market.

Previously backed by the National Wealth Fund (NWF) in its first battery storage debt transaction, Pulse Clean Energy now receives support from UK and European commercial banks, allowing the NWF to exit. The company plans to reach over 2GWh of operational capacity by 2030.