WFW advises Varco Energy on 100 MW UK BESS project acquisition30 September 2025
Located in Bradford, West Yorkshire, UK, the Old Allen Road project is expected to be operational by May 2027.
Located in Bradford, West Yorkshire, UK, the Old Allen Road project is expected to be operational by May 2027.
The project will be transmission connected and significantly increase the UK’s installed BESS capacity.
On 13 February 2025, the application window opened for Allocation Round 7 (AR7) of the UK government’s Contracts for Difference scheme. AR7 introduces the Clean Industry Bonus, superseding the previous ‘Sustainable Industry Rewards’.
The portfolio includes operational and ready-to-build assets in France and Ireland.
The financing enables the construction of nearly 2 GW of solar and battery storage assets.
The transaction represents Masdar’s largest ever euro-denominated financing, its first project with Iberdrola and its first in Germany.
We are delighted to announce that two deals the firm advised on have won awards at the prestigious IJGlobal Awards 2023.
This is the largest UK gas generation project in over a decade.
The financing structure covers the first 540 MW of projects in the portfolio, and includes fully committed senior debt facilities and an equity bridge loan.
The transaction marks a key step in PSL’s aim to reach 5 GW of renewable capacity across Europe by 2026.
The financing will enable the development of multiple large-scale renewable energy and storage projects.
The financing, which has a maximum maturity term of 15 years, is the largest ECA-backed green loan Iberdrola has ever signed.
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