What is typically sought
- Development capital
- Construction capital
- Portfolio equity
- Operating asset acquisition
- Growth capital for storage platforms
- Joint venture and coinvestment capital
Sectors / Energy Storage
Energy Storage
Battery energy storage, long duration storage and the assets that support them.
Overview
- Battery storage
- Long duration
- Grid scale
- Coupled with generation
- Behind the meter
- Grid services
Storage is where the market clears its own volatility, and the investment case reflects that. Revenue is stacked rather than single stream, and its composition changes as more capacity connects. Underwriting therefore depends on a view of the market several years out, not on a single year of observed spreads.
Capital has responded by favouring structure over optimism. Tolling agreements, floor mechanisms and optimiser arrangements have become the practical route to financeability for many portfolios, while a smaller pool of investors continues to take merchant exposure at the appropriate price.
We review battery portfolios at development and construction stage, operating assets seeking recapitalisation, and long duration technologies where the commercial case can be evidenced.
Capital requirements
Assessment
What we look for
- Grid connection capacity and energisation date
- Duration and cell supply strategy
- Route to market and optimiser arrangements
- Any tolling, floor or contracted revenue position
- Warranty, augmentation and degradation assumptions
- Planning status and site control
Capital sources
Where introductions are made
- Infrastructure and energy funds
- Utilities and optimisers
- Private credit
- Strategic and industrial investors
- Family offices
- International investment groups
Categories of capital, not named relationships. Fit is assessed against stated mandate on a case by case basis.
Seeking capital
Raising for a energy storage opportunity
Tell us the stage, the amount, the instrument and what the capital funds. Where the requirement is defined and the evidence exists, we will tell you quickly whether we can be useful.
Capital partners
Investing in this sector
If your mandate covers energy storage, set out the criteria you apply. Introductions are made only against them.