Cero Generation has secured financial close on a financing package of approximately £200 million for a portfolio of three co-located solar photovoltaic (PV) and battery energy storage system (BESS) projects in UK. The financing, structured as a green loan, was raised through a consortium of ING, NordLB, Rabobank, and Santander UK, with an accordion facility included for accommodating future projects in the pipeline.
The portfolio consists of the Bramley project with a 115 MW solar and storage capacity and two additional near-term projects with a combined capacity of 245 MW. All three projects have been confirmed as aligned with the European Union Taxonomy for sustainable activities. Construction of the Bramley project is scheduled to begin in autumn 2025.
Project partners include EDF, LONGi, Sungrow, Metlen and Omexom. Additionally, Cero Generation is also launching a community fund of £50,000 to provide benefits to local residents during the project’s execution. Legal, financial, and risk advisory support for the financing was provided by CMS, EvoInfra, and PMC Treasury respectively, while Dentons, Wood, and Marsh advised the lending consortium on legal, technical, and insurance matters.
