TagEnergy reaches fin close on 49.9-MW/100-MWh Scottish battery project

Renewable energy enterprise TagEnergy, controlled by Impala SAS and supported by major investors Mirova and Omnes, has achieved financial close on a 49.9-MW/100-MWh battery energy storage project in Scotland’s Fife council area.

The Roaring Hill project will be implemented with debt funding extended by the UK arm of Spain’s Banco Santander. TagEnergy has retained a 100% ownership stake in the project, it said on Wednesday.

The proposed energy storage system will be equipped with the Tesla Megapack lithium-ion batteries. Its installation will be handled by the project’s initial developer RES Group, with commercial operations scheduled for the first quarter of 2024.

The facility will provide grid stabilisation and ancillary grid services that will help balance supply and demand.

Roaring Hill is TagEnergy’s fourth battery storage project that reaches financial close in the UK. The Portugal-based firm purchased the scheme from RES in 2021.

TagEnergy’s secured UK portfolio consists 320MW/640MWh. Earlier this month, the company started building a 49-MW/98-MWh battery system near Abernethy, Scotland, with its joint venture partner Harmony Energy.

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