NatWest and Lloyds Banking Group have led the financing for the Cleve Hill solar and battery energy storage system ( BESS ) project in the United Kingdom.

Quinbrook Infrastructure Partners is the sponsor and borrower.

NatWest structured a debt facility comprising a £218.5 million ( US$ 282.62 million ) term loan and a £20 million VAT facility.

The project was arranged in two tranches, with the committed financing for the solar elements of the project completed in August 2024, and the financing for the BESS element of the project in March 2025.

NatWest and Lloyds took an equal share of the debt. As a mandated lead arranger, the NatWest deal team also supported both the rates and inflation hedging. Watson Farley & Williams advised the lenders.

Situated on the north Kent coast in the south of England, Cleve Hill will generate renewable power through photovoltaic panels to provide clean power to the UK grid.

It is the largest co-located solar and BESS project under construction in the UK, and the first to be considered a “nationally significant infrastructure project”.  The entire project is expected to start operations this year.

“Cleve Hill is a cornerstone transaction for the UK market delivering material new renewable capacity while alleviating grid constraints, with a sizeable local community and biodiversity benefit," says Lyudmil Banev, director, project finance and infrastructure, at NatWest. "We see co-location as a highly strategic sector with potential to become a centrepiece of the UK’s medium-term decarbonization story.”

“When this project was envisioned over five years ago, we knew solar and battery storage projects of this scale would play a critical role in accelerating the UK’s transition and Cleve Hill is a prime example of how strategic investments can enhance national energy infrastructure", added

Rory Quinlan, Quinbrook’s co-founder and managing partner, adds: “When this project was envisioned over five years ago, we knew solar and battery storage projects of this scale would play a critical role in accelerating the UK’s transition and Cleve Hill is a prime example of how strategic investments can enhance national energy infrastructure."

Quinbrook is a specialist investment manager focusing exclusively on the infrastructure needed to drive the energy transition in the UK, the United States, and Australia. The company has completed a diverse range of direct investments in both utility and distributed scale onshore wind and solar power, battery storage, reserve peaking capacity, biomass, fugitive methane recovery, and flexible energy management solutions.

Photo: The Cleve Hill Solar Park ( Quinbrook )