NatPower UK is set to bring forward its pipeline of 100GWh of UK battery storage projects after sealing a deal for up to £60 million of financing with European infrastructure bank Kommunalkredit, based in Austria.
NatPower UK claims the largest battery storage pipeline in the UK, including three 1GW GigaParks in North Yorkshire and Tees Valley, and said it is also planning to invest in long duration storage.
Stefano D. M. Sommadossi, CEO at NatPower UK, said: “With huge changes currently being made to the connections process, the UK’s energy grid will require an acceleration of private capital to ensure we can deliver the right projects as quickly as possible.“
David Prat, Senior Transactor at Kommunalkredit, said:  “We see this as a landmark financing in the UK’s battery storage market and are excited to support NatPower.”