PFs due for AIP/BW ESS
AIP Management has agreed to acquire a 49% stake in a battery energy storage portfolio being developed by BW Group-linked company BW ESS.
The 100MW/300MW Bramley scheme is operational and the 400MW/1.422GWh Hams Hall and 200MW/712MWh Berkswell are under construction.
Hampshire-located Bramley is backed by a £62m mini-perm debt financing from Westpac and UOB plus a seven-year tolling agreement from Shell and a 15-year capacity agreement from National Grid ESO. Hams Hall and Berkswell are both in the Midlands. Financings will be put in place before completion when the projects will be accepted into the newly formed AssetCo.
BW ESS CEO Erik Stromso said in June the company is moving fast to build projects and grid connection holdups actually help developers such BW ESS that can move quickly. The firm is starting construction of Hams Hall and Berkswell on a merchant basis and could put tolls in place later.
