Cero Generation Reaches Financial Close on a ~£200m financing package for a portfolio of UK solar and BESS co-located assets

Cero Generation Reaches Financial Close on a ~£200m financing package for a portfolio of UK solar and BESS co-located assets.

• A ~£200m financing package raised through a consortium of leading lenders made up of ING, NordLB, Rabobank and Santander UK – with an accordion facility included in the financing to accommodate future projects.
• The three initial projects, developed by Enso Energy, have a total installed capacity of 360MW across both solar PV and BESS projects – with a further pipeline of projects earmarked for this portfolio.
• All three projects have achieved alignment with the EU Taxonomy for sustainable activities.
• The Bramley Project will be the first to come online with construction commencing in Autumn 2025.

Cero Generation (“Cero”), alongside its UK development partner, Enso Energy, announces that it has reached financial close on a portfolio of three UK-based Solar Photovoltaic and Battery Energy Storage System (BESS) projects, securing a ~£200m financing package from a consortium of leading lenders: ING, NordLB, Rabobank and Santander UK. The funding includes an accordion facility to accommodate future projects within the pipeline.

The portfolio includes the Bramley Project (115MW co-located solar and storage) and two other near-term projects with a combined capacity of 245MW of BESS and Solar PV.  The financing was structured as a Green Loan, with all three projects achieving alignment with the EU Taxonomy for sustainable activities. This confirms that the projects meet stringent environmental and social criteria and make a demonstrable contribution to climate change mitigation.

With financing secured, construction is due to commence at the Bramley site in Autumn 2025. The Bramley Project will bring together a strong group of industry partners to deliver high-quality, sustainable infrastructure. EDF will provide optimisation for the battery and route-to-market services for the solar PV, LONGi is supplying the solar modules, Sungrow is delivering the battery energy storage systems, and Metlen has been appointed as the engineering, procurement and construction (EPC) contractor with Omexom as grid works contractor.

Approximately 80 people will be involved in constructing the solar and BESS projects, leading to the creation of jobs and economic opportunities during the construction phase. Cero Generation is also launching a £50,000 community fund to deliver tangible benefits to local people.

Cero was supported by CMS (Sponsor’s Counsel), EvoInfra (Financial Modelling support) and PMC Treasury (Hedging and Risk Adviser), while the consortium of lenders was advised by Dentons (Lender’s Legal Adviser), Wood (Lenders Technical Adviser) and Marsh (Lender’s Insurance Adviser).

Marta Martinez Queimadelos, CEO of Cero Generation, said:

“This milestone reflects our continued commitment to UK solar and our ambition to deliver projects that meet the highest environmental standards, including EU Taxonomy alignment. We are proud to be working with such experienced partners across development, financing, and delivery, and we thank them for their critical contributions to these projects. Together, we are accelerating the transition to a more sustainable and resilient energy system.”

Bill Rees. Managing Director at Enso Energy said:

“The UK urgently needs flexible, clean energy infrastructure, and this portfolio – totalling 360MW of co-located solar and storage – represents a major step forward. It’s exciting for us at Enso Energy to see these sites that we developed reach this important milestone. It shows what’s possible when you combine deep development expertise with a shared commitment to sustainability, community benefit and technical ambition”.

Sylvan Jonker, Head of Renewables & Power NL at ING said:

“It’s great to have supported Cero Generation with the financing of their latest portfolio of co-located solar and BESS projects. This transaction marks another step forward in ING’s commitment to accelerate the energy transition and deliver flexible, resilient, and sustainable power solutions for the UK”

Jorn Leeuwendal, Deputy Head of Energy Origination at NORD/LB said:

“We’re delighted to partner with Santander UK, ING and Rabobank on financing Cero Generation’s portfolio of co-located solar and BESS projects in the UK. These critically important projects will help to generate clean, sustainable energy for tens of thousands of households across the UK and will play a crucial role in stabilising the country’s electricity grid.”

Stefan Hogewoning, Executive Director Project Finance Europe at Rabobank said: 

“Rabobank Project Finance congratulates Cero Generation with the closing of this financing. We are delighted to have supported Cero in this transaction and with that strengthen our existing relationship. Financing this portfolio in the UK fits well within Rabobank’s Banking the Energy Transition strategy. We look forward to support Cero in their further expansion.”

Benedict Smith, Head of Specialised & Project Finance, Santander UK, said:

“We are pleased to have supported Cero Generation, helping to fund the development of their UK Solar and BESS projects. As a strategic player in the renewables sector, Cero is assisting the UK with its energy transition. These projects are of particular note as they deliver both generation and flexibility. We see these co-location assets being critical to delivering clean power ambitions. Santander UK looks forward to working with Cero to deliver these and future projects.”

Christopher Dalley, Director of EDF Wholesale Market Services, said:

“We’re thrilled to have signed an agreement to optimise the Bramley solar and battery project with Cero Generation. This partnership exemplifies our commitment to driving value for our partners by leveraging cutting-edge optimisation strategies and co-location efficiencies, while supporting the UK’s goal of achieving a low-carbon, electric future.” 

Notes to editors   

Media enquiries contact: Charlie.Geller@cerogeneration.com 

About Cero Generation   

Cero Generation is a leading IPP, specialised in developing, constructing and operating solar energy and battery storage projects, accelerating the delivery of a net-zero future across Europe.    

Powered by an experienced team that brings world-class industry, commercial, engineering and environmental expertise to its projects, Cero is active through every stage of the lifecycle, from planning and construction to operation. It works closely with local development partners, suppliers and stakeholders to deliver high-impact projects that positively benefit the environment and community.