Wattstor, an energy company providing commercial and industrial customers with low-cost renewable electricity, has secured up to £50 million in debt financing from Aldermore Bank to support the next phase of its Price Protect project portfolio.
The financing agreement has been signed and will initially be used to part-fund the first three Price Protect projects, with further drawdowns expected as additional projects reach financial close. The facility supports Wattstor’s ambition to finance more than 15 projects over the next 1-2 years, with further expansion planned in subsequent years.
The debt facility is complemented by additional equity investment from Ara Partners, Wattstor’s private equity backer. IDCM acted as exclusive Financial Advisor to Wattstor.
The financing reflects institutional confidence in Wattstor’s business model and the scalability of Price Protect, which offers a tailored electricity supply tariff designed to guarantee commercial customers below market prices, insulate them from market shocks by providing an absolute price cap, and let them take the upside when wholesale prices decline.
Price Protect is made possible by the installation of onsite renewable generation systems, designed, commissioned, operated and optimised by Wattstor themselves. The combination of system design, battery energy storage expertise and proprietary software, Podium, allows Wattstor to offer a differentiated commercial offering and Wattstor’s established record of delivering and operating battery energy storage projects across Europe has made the model attractive to a range of institutional investors.
The transaction represents an important milestone for Wattstor, strengthening its funding position and providing a scalable capital structure to support continued project deployment.
Stephan Marty, CEO of Wattstor, said, “We are very pleased to work with Aldermore Bank on this debt facility. The financing supports the next phase of Wattstor’s growth as we scale the Price Protect portfolio. The facility enables us to progress our initial projects while maintaining a disciplined and repeatable approach to development, backed by the continued support of our partners.”
Myles O’Shaughnessy, Managing Director at Ara Partners, said, “This landmark financing reflects the strong progress Wattstor has made in building a robust and scalable energy solutions platform while further demonstrating the bankability of the Price Protect offering. We are delighted to collaborate with Aldermore to ensure that Wattstor and its Management team are well supported to execute the next phase of growth for the business.”
Lauren Pamma, Head of Energy & Infrastructure Finance at Aldermore Bank said, “Wattstor has developed a compelling and scalable model that addresses a real challenge for commercial energy users by offering greater cost certainty alongside the rollout of decentralised renewable infrastructure. We’re pleased to support the growth of the Price Protect portfolio with a facility that reflects our experience in structuring finance for innovative energy projects and backing businesses with strong long-term potential.”
