BW ESS, an energy storage project developer and operator, secured debt financing from Westpac, an Australian bank, and United Overseas Bank (UOB) based in Singapore.
According to the agreement, Westpac and UOB will each contribute 50% to the debt facility. While CMS acted as legal advisor to BW ESS, Ashurst was appointed legal advisor to the lenders. Everoze and Baringa acted as technical and market advisors, respectively.
The company will use the funding to operate its 100 MW/331 MWh Bramley Battery Energy Storage project in Hampshire, U.K.
“Bramley is a flagship asset in our growing U.K. portfolio. We were nonetheless encouraged by the exceptionally high level of interest the project generated from the lending community. We couldn’t be happier with our final choice of lending partners; both UOB and Westpac have demonstrated a firm commitment to supporting the global rollout of strategically significant BESS projects and share our interest in unlocking the value of energy storage,” said Marc Weisser, CFO of BW ESS.
In April, the company secured a loan agreement with Nordea Bank to finance its 211 MWh Swedish energy storage portfolio, marking the second recent external financing closed.
The company already has energy storage projects, including 1.4 GWh under construction at Hams Hall, 0.7 GWh in pre-construction at Berkswell, and a development pipeline of approximately 1 GW of five additional projects in the U.K.
According to Mercom’s Q1 2025 Funding and M&A Report for Energy Storage and Smart Grid, announced Energy Storage project funding increased 142% year over year in 2025.
In April, Spearmint Energy, a utility-scale battery storage project developer, secured more than $250 million in financing for the construction and development of two 100 MW/200 MWh Tierra Seca and Seven Flags battery energy storage projects located in Del Rio and Laredo, respectively, within the Texas ERCOT power market. The company also announced that it has begun construction of the projects.
