Revera Energy, an independent energy infrastructure solutions platform backed by global investment firm Carlyle, has closed project financing to construct the 200 MW/400 MWh Windyhill battery energy storage systems (BESS) located in Bearsden, Scotland.
Santander CIB provided the non-recourse senior debt financing for the project. White & Case served as borrower’s counsel, and Milbank acted as lender’s counsel.
The project is one of the first of three U.K. battery energy storage projects. Concurrently, the company has issued a notice to proceed with construction to begin immediately, with commercial operations anticipated in Q1 2028.
Energy equipment manufacturing and services provider GE Vernova will supply the BESS and provide a long-term service agreement, while G2 Mitie has been contracted as the balance of plant contractor and maintenance provider. Revera will oversee construction management and long-term asset management.
“We are delighted to complete the financing for Windyhill BESS, a key milestone that enables the construction of this critical project,” noted Daniel Kim, CEO of Revera Energy. “This milestone is a significant achievement for Revera and marks another crucial step in our mission to build a high-quality independent power platform in the UK and Australia and accelerate the energy transition.”
The project is expected to support the U.K.’s Clean Power 2030 net zero goals, contribute to grid resilience, and help to unlock a key transmission bottleneck separating wind generation in Scotland from electricity demand in England.
The company has an additional 800 MW/1,600 MWh of BESS projects with approved planning consents, land rights, grid access (NESO Gate 2), and 15-year capacity market contracts. Construction of this 800 MW of BESS capacity will commence over the next 12 months.
In January 2026, Swift Current Energy sold the 150 MW/600 MWh Prospect Power battery storage project. The project is located in Rockingham County, Virginia, and was acquired by Elevate Renewables, a renewable energy development company.
Large-scale solar project funding increased by 37% in 2025 compared with the funding raised in 2024, according to Mercom’s recently released Annual and Q4 2025 Solar Funding and M&A report.
