LONDON, 1 May: Triple Point, the purpose-led investment manager and Ethical Power, the utility-scale solar and battery storage company, have agreed a debt facility of £7 million to support Ethical Power’s development of early-stage Solar and Battery Energy Storage Systems (BESS) projects in the UK.
The £7 million debt facility is the start of a new partnership between Triple Point and Ethical Power. The funding will support expansion of the UK’s green energy infrastructure therefore ultimately contributing to keeping energy costs down and balancing the electrical grid.
Triple Point has a long track-record of providing unique debt financing for energy transition asset developers that support the renewable energy integration across the UK – and has provided financing for over 16 gigawatts (GW) of UK Solar and BESS assets in development.
Ethical Power is the UK’s only independent vertically integrated energy infrastructure company. Its end-to-end capabilities add value across the entire lifecycle of green energy infrastructure projects. The company’s current pipeline of renewable energy projects in development in the UK represents 175 megawatts (MW) solar and 225MW BESS, on top of over 1GW in construction and development globally.
Jessica Fisher, Senior Investment Manager at Triple Point commented, “We are pleased to have agreed a partnership with Ethical Power, given their expertise and strong track record in developing the energy infrastructure of the future. Together we will be working towards realising a fully decarbonised and resilient electricity system by 2035.”
Stephen Williams, CFO at Ethical Power said: “There’s a strong alignment between Ethical Power and Triple Point who share a mutual commitment towards building out renewable energy infrastructure. This is our first loan with Triple Point, and we hope to build a long-term relationship with them as a very well-matched financial partner for Ethical Power. With the funding in place, we’ll be able to progress a number of exciting development opportunities in the renewable energy space, building a more sustainable future for all.”
About Triple Point
Triple Point is the place where people, purpose, and profit meet. Established in 2004, Triple Point’s purpose-led investing aims to create long-term value for investors, communities, and broader society by investing rationally to fund solutions to real-world problems. Triple Point targets areas like infrastructure, energy efficiency and social housing, unlocking investment opportunities that make a difference. The company manages over £3 billion of private, institutional and public capital across five distinct investment strategies: Social Housing, Energy, Digital Infrastructure, Private Credit, and Venture. Each of these strategies helps to solve a problem society faces, and each one creates opportunities for investors.
About Ethical Power
Ethical Power is the UK’s only independent vertically integrated renewable energy company. Its end-to-end capabilities set the standards for development, design, construction and operations of green energy infrastructure projects. It delivers unrivalled build quality and asset performance and provides innovative technologies and solutions to the challenges of the modern energy industry.