Pulse Clean Energy has secured a three year £175 million credit facility with a syndicate of banks including Santander, UK Infrastructure Bank, CIBC and Investec. The proceeds will be used to support the development of multiple new energy storage and grid stability facilities across the UK, which will help to create jobs across the country and deliver on the UK’s Net Zero targets.
“We are delighted to have completed this financing to aid in the continuing delivery against our ambition to build 1GW+ of energy storage and stability assets.” said Nicola Johnson, Chief Financial Officer at Pulse Clean Energy. “We are look forward to building on the relationships with our syndicate banks.”
The financing was structured by CIBC as sole financial advisor. Eversheds acted as borrower legal counsel with Ashurst as lender counsel. Consulting firms Baringa acted as market advisors with Everoze and Fitchner as technical advisor, and Operis as model auditor.
Pulse Clean Energy is an investor, developer and holder of flexibility assets backed by Investment Management Corporation of Ontario (IMCO), a Canadian institutional investor with $73 billion assets under management.
For more information, visit www.pulsecleanenergy.com