Developer Revera has successfully closed project financing on its Hunterston BESS, a 400MW / 800MWh project located in North Ayrshire, some 50 kilometers south-west of Glasgow, Scotland. The company has issued notice to proceed with construction commencing immediately, and commercial operation is expected in Q3 2028.
Backed by global investment firm Carlyle, the IPP said that non-recourse senior debt for the project was provided by a banking syndicate comprising Santander, Barclays, Commonwealth Bank of Australia, and NatWest. The final investment decision was previously announced in June 2026.
In terms of hardware, Chinese manufacturer Sungrow will supply the storage system and provide long-term servicing, though the exact BESS type was not provided. UK-based OCU Group will act as the balance-of-plant contractor and long-term operations and maintenance partner, while Revera retains long-term asset management.
Revenue structure is a blueprint for new BESS builds
The project has secured two off-takers, and the deal itself presents interesting dynamics for those watching the shift from merchant revenues to setups that require floors and tolls to secure debt.
For the two-hour duration battery, Revera announced Danske Commodities and BP will both provide trading and optimization services for the project: BP is providing a long-term tolling structure while Danske Commodities is providing a long-term floor structure.
As evidence of the ongoing shift to longer durations as revenue stacks are required to tackle multiple marketing opportunities, Revera’s next phase of 400 MW UK assets is shifting to four-hour duration windows: it noted it has “up to an additional 400 MW / 1,600 MWh of BESS capacity” with “approved planning consents, land rights, grid access (NESO Gate 2) and 15-year capacity market contracts,” for which construction is proposed to commence over the coming months.
Elsewhere
Hunterston BESS is Revera’s second UK transmission-connected BESS to achieve financial close in 2026. It provided an update on its Windyhill BESS, a 200MW / 400MWh facility, which was said to be “progressing well through construction” and remains “on track for commercial operations in Q4 2027.”
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