Still Waters Green Technology (SWGT) and Santander UK have reached the £28m financial close on the second phase of the Mannington battery storage project in Swindon.
Scheduled to reach commercial operations in October 2021, the battery asset is on track to become the first operational two-hour duration BESS asset in the UK.
Independent battery energy storage system asset manager Still Waters Green Technology, has secured £28 million support finance from Santander for Phase 2 of the Mannington project, being an extension of the project into a 35MW/70MWh (2 hour duration) utility-scale, subsidy-free BESS asset in Swindon.
London-based battery energy storage system asset manager Still Waters Green Technology’s 30MW utility-scale asset to be built at Mannington following Santander’s £12 million financing. It is the first project finance funding structure that has adopted a multi debt tranche approach to the tiered risk profile of the battery energy storage system revenue model.
The borough council’s wholly-owned company Public Power Solutions has agreed with battery plant specialist Still Waters Green Technology to build a huge 30 megawatt battery plant in Mannington. The cleared former depot site will host 25 containers between the A3102, railway line and Mannington Retail Park.