Voltwise Power, a utility-scale battery storage project developer, closed the syndication of a £153.9 million (~$211 million) acquisition financing supporting the purchase of a 460 MW diversified battery energy storage system (BESS) portfolio located in the U.K. from Smart Metering Systems, a U.K.-based energy infrastructure company.
The portfolio comprises seven operational BESS projects with a combined capacity of 320 MW/350 MWh, four projects under construction totaling 140 MW/280 MWh, and a number of development projects expanding the company’s existing pipeline.
Santander CIB served as the M&A advisor, sole underwriter, bookrunner, mandated lead arranger, hedge provider, original issuing bank, and account bank on the transaction.
NatWest, Kommunalkredit, and Siemens Financial Services, through Siemens Bank, joined the transaction as part of the syndication process. The financing structure includes acquisition and construction facilities, alongside ancillary facilities, tailored to the portfolio’s mix and cash flow profile.
This acquisition marked the company’s expanding footprint in the U.K. battery storage market. The company, founded in 2023 and headquartered in London, is focused on developing, owning, and operating BESS projects in the U.K. and Germany.
Voltwise Power had earlier in 2024 acquired a 56 MW/2-hour battery storage project located in North Rhine-Westphalia, Germany, which is expected to commence operation by the end of 2026.
According to Mercom’s 9M and Q3 2025 Funding and M&A Report for Energy Storage report, there were 45 energy storage project M&A transactions in the first nine months of 2025 compared to 22 transactions in the same period of 2024.
Earlier this Month, Alpiq, a Switzerland-based electricity producer and energy service provider, acquired the Cheviré operational battery energy storage project located at the port of Nantes Saint-Nazaire in western France from Harmony Energy, a European developer of battery energy storage systems.
