202420 Feb

Aurora Supports TagEnergy in Securing Funding for Battery Project

Summary

The fully merchant project, boasting a capacity of 49.9MW/99.8MWh, is financed through a green loan package of up to \xa370 million, provided by lenders Santander UK, Rabobank, and Triple Point. The project was financed under a non-recourse green loan package of up to \xa370 million, provided by lenders Santander UK, Rabobank, and Triple Point on a fully merchant basis, except for Capacity Market revenues.TagEnergy utilized Auroras bankable software solution, Chronos, a tool through which users can run valuations of BESS projects using Auroras cutting-edge proprietary battery dispatch engine, providing clients with rapid reliance-ready results for due diligence, transactions, and debt financing.The Pitkevy project marks TagEnergys second fully merchant asset involving Aurora Energy Research. Lakeside, a collaboration between TagEnergy, Tesla, Habitat Energy, and RES, secured a non-recourse debt package of up to \xa370 million from Santander, Rabobank, and Triple Point in October 2023. We are a diverse team of more than 550 experts with vast energy, financial and consulting backgrounds, covering power, hydrogen, carbon, and fossil commodities. We are active in Europe, Australia, Asia, Latin America, and the US, working with world-leading organisations to provide comprehensive market intelligence, bespoke analytic and advisory services, and cutting-edge software.TagEnergy generates and trades competitive, clean power to accelerate the energy transition.

Source: Auroraer

Funding

$88.37M
Amount
Feb 20 2024
Date
-
Investor
TagEnergy
Company

Classifications

Companies