Elements Green has reached a major milestone in its development by securing a £140mn ($181mn) debt facility from Private Credit at Goldman Sachs Alternatives for its battery energy storage system with a capacity of 360 MW and 720 MWh. This project, currently in early construction, stands among the most significant energy storage initiatives in the UK, with full commissioning scheduled for mid-2027.
A large-scale project to support the UK grid
Advisory firm IDCM supported Elements Green as financial advisor throughout the transaction. The site, named Staythorpe, aims to enhance grid stability and facilitate the integration of renewable sources, while aligning with the UK’s net zero targets. The project will secure stable revenues through a 15-year capacity market contract and a long-term floor agreement with Électricité de France (EDF).
Leading industrial and financial partners
Construction of the site has been awarded to Mitie, which will integrate the latest storage technology supplied by Hithium. This project highlights Elements Green’s technical expertise and its ability to form strategic partnerships and attract large-scale structured financing.
James Gates, Chief Investment Officer at Elements Green, underlined the importance of this funding for the development of the battery energy storage sector in the UK. Christian Schaefer, Managing Director and Co-Head of Climate Credit at Goldman Sachs Alternatives, stated that this collaboration aims to address the sector’s strategic challenges through a bespoke financing solution.
The completion of this transaction reflects the growing appetite of institutional investors for innovative energy infrastructure projects, as the UK expands its storage capacity to support the transition of the electricity grid.
