Balance Power Secures £5.1M Funding from Triple Point for Solar and Battery Projects
We are excited to announce that Balance Power has secured a £5.1 million debt facility from investment manager Triple Point. This crucial funding will accelerate the development of our solar and battery energy storage system (BESS) projects across the UK.
This new partnership between Balance Power and Triple Point highlights our shared commitment to advancing renewable energy infrastructure. The £5.1 million investment will significantly boost our efforts in expanding our BESS and solar PV projects within our extensive 1.87GW pipeline, which includes 1.839GW of BESS and 31MW of solar capacity.
A portion of this funding will be allocated to acquiring the 6MWp Roborough project which is ready for construction. Once completed, it will provide clean energy to local energy-intensive businesses, furthering our mission to deliver sustainable power solutions.
Hamish Tate, Investment Manager at Triple Point, expressed his enthusiasm for this partnership, stating: “We are thrilled to partner with Balance Power in advancing essential BESS and solar PV projects that bring much-needed renewable energy infrastructure to the UK. By reducing reliance on fossil fuel technology, these initiatives tackle high energy costs and contribute to balancing the electrical grid. This debt facility highlights our commitment to supporting developers of energy assets that drive the UK towards a cleaner, more secure energy future.”
Craig Griffiths, CFO at Balance Power, commented: “Securing this investment is a significant milestone for Balance Power, marking a pivotal moment in our journey to revolutionise the clean energy landscape. The funding will allow us to continue delivering vital clean energy infrastructure, helping the UK transition to cleaner sources of energy and bringing bills down for consumers. It’s also a vote of confidence in our innovative approach that prioritises collaboration with all our stakeholders, and represents a key moment as we increasingly look to acquire projects at different stages of development to bolster our growing pipeline of solutions.”
This investment not only supports our immediate project goals but also aligns with our long-term vision of a sustainable energy future for the UK. We look forward to the continued growth and success of our renewable energy projects, supported by our partnership with Triple Point.