Energy infrastructure platform Revera Energy has completed an expanded US$150 million credit facility to accelerate development and construction of its renewable energy portfolio, including solar, battery storage and green hydrogen projects, across Australia and the UK.
The Carlyle-backed energy infrastructure platform was formed last year with a focus on the UK and Australia. It started by carving out assets from renewables developer Amp Energy, which is also backed by US multinational investment firm Carlyle.
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The facility upsize with Japanese financial services company Nomura as Sole Bookrunner and Lead Arranger reflects institutional confidence in Revera’s development capabilities across two of the world’s top five battery storage markets, the firm said.
Law firm Norton Rose Fulbright served as lender’s counsel, while A&O Shearman acted as borrower’s counsel for the transaction, which is expected to be upsized further in the near term.
The additional capital will help the firm optimise 158MW of operational solar PV power plants under management in New South Wales. This could include projects such as the 30MWac Molong Solar Farm, which was brought online in 2022.
It will also support the construction of the 150MW/300MWh Bungama Stage 1 battery storage project in South Australia, with commercial operation targeted for Q2 2026.
Revera previously secured financing for the first stage of what was then an Amp Energy project, before Carlyle’s shift.
The financing will also accelerate development of at least 600MW/2,400MWh of additional battery storage capacity across Australia’s National Energy Market (NEM), with the firm teasing that the next 250MW project is expected to reach notice to proceed in Q3 2026.
The majority of Revera’s Australian pipeline has secured land, grid connections, and planning approvals.
Financing to support 2,000MWh of battery storage in the UK
Revera plans to accelerate development of at least 1,000MW/2,000MWh of late-stage battery storage projects in the UK, with the first 200MW project expected to reach notice to proceed in Q1 2026.
Two additional projects totalling 800MW are expected to follow over the next 12 months, each having secured land, grid connections, and capacity market contracts.
The UK projects aim to strengthen grid resilience and address transmission bottlenecks that prevent stranded Scottish wind generation from reaching demand centres in England.
This infrastructure development supports national decarbonisation commitments and continued additions of renewable energy to the UK grid, with Revera targeting one of the largest battery energy storage system platforms in Europe.
To read the full article, please visit Energy-Storage.news.
