UK-based clean energy infrastructure developer Pathfinder Clean Energy (PACE) has secured a €100 million (US$113.4 million) convertible bond investment from investment management company RGREEN INVEST to support its deployment of a solar PV and battery energy storage system (BESS) portfolio in the UK.
The investment will support PACE’s transition into an owner and operator of clean infrastructure and help finance the construction of a nearly 400MW solar PV and more than 200MW BESS portfolio, while advancing its development pipeline, including clean data centre projects.
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Among the developer’s clean energy pipeline are eight projects for a combined 250MWp that have secured Contracts for Difference (CfDs) through the latest Allocation Round 7 (AR7a).
The portfolio is built under a co-location strategy to combine solar PV with BESS, with the proceeds of the financing primarily dedicated to the construction of these assets over the next two years.
Rob Denman, Managing Director at PACE said: “The UK’s clean infrastructure ambitions are substantial, and PACE’s permitted pipeline, experienced team and extensive construction programme puts us in an exceptional position to navigate delivery.”
Read the full version of this story on Solar Power Portal.

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