The joint venture between Cero Generation and Enso Energy is understood to have acquired the consented 99.9 MW Lower Larks battery storage project in Gloucestershire from developer RE Projects Development (REPD).

The project addition emerges on the same day that Cero announced it has secured a GBP 200m (EUR 235m) financing package for a separate portfolio of three co-located solar and battery storage projects in the UK.

The funding was arranged through a consortium of lenders comprising ING, NordLB, Rabobank and Santander UK. The structure includes an accordion facility to support additional projects from Cero and Enso’s UK pipeline.

The portfolio includes the 115 MW Bramley scheme and two further projects totalling 245 MW of combined solar and storage capacity.

Construction of the Bramley Project is scheduled to begin in autumn 2025. EDF will provide optimisation and route-to-market services, LONGi will supply solar modules, Sungrow will deliver the battery systems, Metlenhas been appointed as the EPC contractor, and Omexom will handle grid connection works.

Meanwhile, the two-hour duration Lower Larks was taken through planning by REPD in 2023, with South Gloucestershire Council signing off on the development in mid-April of that year.

The 80-container asset will connect into the existing Iron Acton substation located adjacent to the project site for onward connection to DNO Western Power Distribution’s electricity network.

Lower Larks is located in the vicinity of Cero and Enso’s Larks Green solar and battery storage project, for which the storage element was announced to have been debt financed by Rabobank in mid-2023.

Cero Generation, was advised on the current financing by CMS (legal), EvoInfra (financial modelling), PMC Treasury(hedging and risk). The lenders were advised by Dentons(legal), Wood(technical), and Marsh (insurance).

Cero declined to comment, while REPD was also contacted.

*This story was originally published exclusively for NPM Europe subscribers.