Cornwall Insight help Zenobē secure £147 million battery storage investment

Cornwall Insight acted as an advisor for Zenobē in securing a £147 million project finance debt for its Kilmarnock South battery storage project. This 300MW/600MWh project marks a key point in Scotland’s renewable energy journey, promising to reduce the amount of wind farm curtailment and avoid CO2 emissions by 3.4 million tonnes over 15 years.

Cornwall Insight acted as a network charging advisor, providing Zenobē with long-term Transmission Network Use of System (TNUoS) forecasts.

The financing, structured by NatWest, was supported by leading infrastructure banks including ABN AMRO, Canadian Imperial Bank of Commerce, NatWest, Rabobank, Santander UK, Siemens Financial Services through Siemens Bank and SMBC Group.

This Kilmarnock South site is an important part of Scotland’s renewables landscape and will play a crucial role in propelling the UK towards net-zero.

James Cunningham, Senior Consultant, Cornwall Insight:

“We are proud to have supported Zenobē in achieving this remarkable milestone. The Kilmarnock South project is an important moment for innovation and renewables in Scotland, and we are confident it will play a significant role in propelling the country towards net zero.

“It has been a pleasure to work with the Zenobē team, helping them secure this investment, which marks a significant step towards a cleaner, greener future for Scotland and the UK as a whole.”