TLT advises Santander UK on funding for landmark battery storage facilities
TLT has advised Santander UK on its multi-million pound funding to global clean energy enterprise, TagEnergy.
The funding supports the construction and operation of two landmark battery storage facilities: the 49.9MW/100MWh Roaring Hill development in Fife, Scotland; and the 49MW/98MWH Jamesfield development near Abernethy, Scotland.
Roaring Hill, which is expected to begin operating in 2024, is the fourth TagEnergy battery storage facility to be supported by Santander UK funding.
Claire Heaton, associate director, specialised and project finance, Santander UK, said: “Santander UK is delighted to provide funding for these battery storage projects which will provide an important contribution to the UK’s ability to produce a reliable flow of electricity from renewable sources. We are grateful to TLT for its support on these funding transactions.”
Gary Roscoe, partner at UK law firm TLT, commented: “We’re pleased to be continuing our work with Santander UK, supporting it to provide funding for the battery storage sector. The Roaring Hill and Jamesfield developments will be the third and fourth TagEnergy battery storage facilities to receive funding from Santander UK, reflecting the continued appetite to support this market.”