NORD/LB bank has announced a landmark £180 million financing package for a portfolio of nine batteries totalling 612MW/1,652MWh, to be built across England and Wales.
The portfolio belongs to Constantine Energy Storage, a partnership of the Alberta Investment Management Corporation (AIMCo), Railpen, Constantine and Pelagic. Seven of the projects are on land adjacent to substations. The sites will utilise 2.7-hour batteries. The consortium financing the portfolio’s development includes NORD/LB, Virgin Money, Société Générale and EDC.
Florian Hock, Senior Director at NORD/LB, said the portfolio “is the largest ever financed in Europe, and we’re thrilled to have worked alongside Constantine Energy Storage on this very important project that will significantly boost the UK’s energy storage capabilities.”

NORD/LB Norddeutsche Landesbank is a German commercial bank that has been active in renewable energy project finance since the 1990s. As an institute under public law, it is part of the S-Finance Group.