ENERGY STORAGE

Solar-storage developer Ethical Power secures £7m Triple Point debt facility

May 2, 2024

Ethical Power has secured a £7 million debt facility from investment manager Triple Point to support the development of solar and battery energy storage systems projects in the UK.

Ethical Power’s current pipeline of renewable energy projects in development in the UK includes 175MW of solar and 225MW of battery energy storage systems, in addition to 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.”