Battery developer Field has secured a £42 million senior non-recourse loan with Rabobank and ING to finance the rapid deployment of batteries totalling 125MW/250MWh in England and Scotland.
The investment agreement covers financing for three battery storage projects. Whitebirk (25MW), in Blackburn, is expected to begin operation later this year. Holmston in Ayr, South Ayrshire (50MW) and Drum Farm in Keith, Moray (50MW) are due to begin operation in 2026 and 2027, respectively.
All three are two-hour duration sites.
The agreement with ING and Rabobank also covers the use of Gaia, Field’s in-house flexibility platform, for optimising the deployment of all three sites, once operational. Field first launched Gaia at its site in Oldham, Greater Manchester in December 2024, automating its participation in the intraday, wholesale and balancing markets on a day to day basis.
Financial adviser, Elgar Middleton, and law firm, TLT, advised Field on the transaction.