Quinbrook Infrastructure Partners has closed a record debt financing for Cleve Hill Solar Park, the United Kingdom’s largest solar-plus-battery storage project.
The project financing combines a £218.5 million ($283 million) term loan and a £20 million ($26 million) VAT facility, provided by Lloyds and NatWest. The financing is the largest solar-plus-battery storage project financing ever closed in the United Kingdom and was arranged in two tranches, with the term loans for the solar photovoltaic (PV) project completed in August 2024 and for the battery energy storage system (BESS) facility in March 2025.
Quinbrook said the revenue contracts secured for the project are critical to underwriting the project financing. In addition to securing the largest award for a U.K. solar project in Round 4 of the government’s 15-year contract-for-difference auction scheme, the project will also benefit from a 15-year capacity market agreement for the BESS, bringing the total co
