Power storage provider TagEnergy has secured funding for its fourth amp-amungous crèche-for-coulombs in the UK, the 49.9MW/100MWh Roaring Hill development in Fife.
Santander UK are providing undisclosed credit to build the battery, while conceding Tag full equity control.
Roaring Hill is TagEnergy’s fourth storage device to be supported by Santander UK since it entered the UK market in 2020.
Twelve months of construction now about to start should see the box yield current early in 2024. It will house Tesla Megapack lithium-ion packs, with Tesla’s Autobidder AI software offering real-time trading and control.
TagEnergy bought Roaring Hill from initial developer RES in September 2021. It will retain the firm as asset manager.
The investors’ first project in Britain, Hawkers Hill Energy Park in Dorset, had its switch thrown in September. Projects at Jamesfield, near Abernethy, Perthshire, and Chapel Farm near Luton are under construction. Together with previously announced ventures in Yorkshire and Pitkevy, Fife, the ventures complete Tag’s UK portfolio of 320MW in power and 640 MWh in capacity.
CEO Franck Woitiez, pictured, said the company’s momentum reflected its determination to speed the shift to a clean energy future.
“When TagEnergy entered the UK market, our stated ambition was to leverage our large-scale battery expertise to support the grid and accelerate the energy transition. Little over a year later, that ambition continues to become reality as we prepare to deliver our fourth facility at Roaring Hill,” Mr Woitiez said.
“We are pleased that Santander UK has once again recognised the value of our projects in increasing both the capacity of the grid and renewable’s share of it as we help meet a critical need for the industry, homes, businesses and the planet.”
Roaring Hill, Hawkers Hill, Chapel Farm and Jamesfield, together with previously announced projects Lakeside in North Yorkshire and Pitkevy, in Fife, take TagEnergy’s secured UK portfolio to date to 320MW/640MWh. Other operations are in Portugal, Spain, France and Australia.
It is controlled by Jacques Veyrat’s Impala SAS Group, supported by major investors Mirova and private equity firm Omnes.
