UK-based clean energy infrastructure developer Pathfinder Clean Energy (PACE) has secured a €100 million (US$113.4 million) convertible bond investment from investment management company RGREEN INVEST to support its deployment of a solar PV and battery energy storage system (BESS) portfolio in the UK.
The investment will support PACE’s transition into an owner and operator of clean infrastructure and help finance the construction of a nearly 400MW solar PV and more than 200MW BESS portfolio, while advancing its development pipeline, including clean data centre projects.
Try Premium for just $1
- Full premium access for the first month at only $1
- Converts to an annual rate after 30 days unless cancelled
- Cancel anytime during the trial period
Premium Benefits
- Expert industry analysis and interviews
- Digital access to PV Tech Power journal
- Exclusive event discounts
Or get the full Premium subscription right away
Or continue reading this article for free
Among the developer’s clean energy pipeline are eight projects for a combined 250MWp that have secured Contracts for Difference (CfDs) through the latest Allocation Round 7 (AR7a).
The portfolio is built under a co-location strategy to combine solar PV with BESS, with the proceeds of the financing primarily dedicated to the construction of these assets over the next two years.
Rob Denman, Managing Director at PACE said: “The UK’s clean infrastructure ambitions are substantial, and PACE’s permitted pipeline, experienced team and extensive construction programme puts us in an exceptional position to navigate delivery.”
