Investment manager Triple Point and energy developer Noriker Power have today announced a £15 million debt facility to support the development of batteries across the UK and Republic of Ireland.
The funding will support Noriker Power’s advanced development pipeline, including the funding of key equipment on a number of Noriker Power’s ready-to-build assets.
Triple Point says it has now originated financing for over 17.7GW of UK battery and solar assets in development.
Dr Marc Thomas, Managing Director at Noriker Power said: “This facility is a major milestone for our business and a strong vote of confidence in our development pipeline. The backing from Triple Point enables us to move quickly on some of the most advanced battery storage projects in the UK and Ireland. These assets are vital to balancing the grid and unlocking more renewable energy. We’re delighted to be working with an investment partner that shares our long-term vision for a clean energy future.”
Jessica Fisher, Investment Director at Triple Point said: “Triple Point has an established track-record of originating unique debt financing for energy transition asset developers that support the renewable energy integration across the UK. We have now originated financing for the development of over 17.7GW of UK BESS and solar assets.”