Close Brothers backs new 27MW battery storage project in Scotland

Close Brothers’ Energy team has provided funding for the construction and operation of a new 27MW battery energy storage system (BESS) in Kilwinning, Scotland, supporting the continued expansion of renewable energy infrastructure.

The project, developed by Unibal, will feature a four-hour battery system capable of storing up to 108MWh of excess electricity before supplying it back to the grid when required to provide critical grid services.

Battery energy storage systems play an increasingly important role in the UK’s energy transition by helping to balance the intermittency of renewable generation, improving grid stability, strengthening energy resilience and enabling greater use of renewable power.

The Kilwinning development marks the third BESS project in Unibal’s growing portfolio, joining two operational battery storage facilities already in Scotland.

Richie Kidd, Head of Deal Execution for the Energy team at Close Brothers, said:

“It was great to work with the team at Unibal having had an existing relationship with the shareholders going back a number of years. Kilwinning represents the third BESS project for Unibal’s growing portfolio, alongside two similar operational projects, also in Scotland.

“We are proud to continue our long history of supporting energy projects throughout the UK and across the various asset classes.”

David Fyffe, Managing Director of Unibal, said the latest financing further strengthens the partnership between the two organisations.

“We are delighted to have reached financial close on another project with Close Brothers,” he said.

“Having experienced first-hand the professionalism of the Close Brothers Energy team, we have forged a strong partnership and look forward to getting the project constructed and generating revenue.”