Battery Energy Storage Solutions (BESS) has secured £28.5 million in project finance funding from Santander Corporate & Commercial.
The firm will use the money to help execute its strategy to have 100MW of grid scale battery storage assets online by the end of this year.
Battery developers are racing to deploy assets in a bid to beat falling frequency response prices as the market becomes saturated.
By end of 2017, BESS had 14MW of battery storage up and running, either standalone or co-located with storage. By the end of this month, the company says it will have connected a further 49MW connected to the grid.
Last month the firm raised £50m in private equity in a round led by Tiger Infrastructure Partners.
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