Cornwall Insight, an energy consultancy, research, and analytics company, is pleased to announce that it has advised Still Waters Green Technology (SWGT) to secure the £12m non-recourse Phase One Financial Close with Santander UK. The deal was announced in November and will see a 30MW utility-scale battery storage project built in Swindon.
Cornwall Insight leveraged its comprehensive knowledge to support and advise SWGT on commercial, policy and regulatory aspects of the energy storage market in the UK. Its consultants harnessed their practical and in-depth market knowledge of the battery storage and flexibility market.
The finance is delivered under Santander’s Environmental & Social Growth Fund structure.
Tom Palmer, Managing Consultant at Cornwall Insight, said:
“We are delighted to have advised SWGT on this landmark transaction. Cornwall Insight used its high-quality flexibility and battery storage modelling capabilities and wider support to help guide SWGT through the process.
“Cornwall Insight’s involvement demonstrates our consultant’s ability to advise ambitious companies to deliver large innovative projects that will play a significant role in the UK’s low-carbon ambitions. This deal reflects the appetite in the sector for energy storage which is only set to grow even larger as the UK and other countries seek to implement cleaner energy solutions to achieve their net zero targets.”
Olivia He, Chief Investment Officer at Still Waters Green Technology, said:
“We would like to thank Cornwall Insight’s for the support towards the success of the inaugural phase of the project, especially during this difficult time with COVID-19.
“This project is testimony to the resilience of the energy transition fuelled by innovation and a strong appetite for renewable energy from investors. It establishes a solid foundation for SWGT’s growth ambition, and vision to become the pre-eminent UK renewable energy sponsor, supporting the integration of low-carbon power generation locally and worldwide.”
About the Cornwall Insight Group
Cornwall Insight is the pre-eminent provider of research, analysis, consulting and training to businesses and stakeholders engaged in the Australian, Great British and Irish energy markets. To support our customers, we leverage a powerful combination of analytical capability, a detailed appreciation of regulation codes and policy frameworks, and a practical understanding of how markets function.
About SWGT
SWGT is a UK based asset management firm specializing in origination, development, investment and management of renewable energy and power generation real assets. We are dedicated to the energy transition to a low-carbon ecosystem by promoting renewable energy development, and committing our global teams and impact capital to the long-term prosperity of the region. SWGT aims to continuously provide innovative solutions to the UK battery energy storage development, with its well positioned global presence, leveraging expertise and resources in green technology, power trading and optimization strategy, financial engineering, digitalization, and international network.
For more information of SWGT please visit our website: www.swgt.co.uk .
