Quinbrook Infrastructure Partners has secured financing of up to £238.5m for Cleve Hill Solar Park, a 373MW solar and 150MW battery energy storage system (BESS) in the UK.
Currently under construction in Kent, the Cleve Hill project is anticipated to start operations later this year.
The financing package, provided by Lloyds and NatWest, includes a £218.5m term loan and a £20m VAT facility.
According to Quinbrook Infrastructure Partners, Cleve Hill Solar Park represents the largest such financing of its kind in the UK. The funding was arranged in two parts, which include the solar photovoltaic loan secured in August 2024 and the BESS facility loan finalised this month.
Lloyds infrastructure and project finance head James Taylor said: “This landmark energy infrastructure project is another boost to the UK’s attractiveness as a destination for investment. As one of the UK’s largest retail and commercial banks, we work with businesses across the country to provide our support for projects that will help to deliver economic growth, provide energy security, and create jobs.”
Quinbrook Infrastructure Partners said that key revenue contracts have been secured to support the project’s financial framework. These include an award from Round 4 of the UK government’s Contract for Difference auction and an agreement with Tesco for 65% of the solar power output.
Additionally, there is a 15-year Capacity Market Agreement that ensures compensation for maintaining power availability during peak demand periods.
Collectively, these agreements are said to contribute to over £480m in contracted and index-linked revenues.
Quinbrook Infrastructure Partners co-founder and managing partner Rory Quinlan said: “When this project was envisioned over five years ago, we knew solar + 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.”
Cleve Hill Solar Park received development consent in May 2020 as a Nationally Significant Infrastructure Project (NSIP) due to its capacity surpassing 50MW. Its operation is expected to reduce carbon emissions by more than 142,000 tonnes annually and contribute to biodiversity net gains exceeding 67%.
The project is projected to support over 2,500 jobs throughout its duration and bring more than £114m in socio-economic benefits locally.
Situated northeast of Faversham and west of Whitstable, near Graveney village, Cleve Hill Solar Park will consist of over 550,000 solar photovoltaic modules along with related infrastructure. As of February 2025, most solar modules were installed, with ongoing landscaping activities expected to continue for six to nine months.
Preparation work for the BESS is said to be actively progressing with completion anticipated by April or May. This phase involves groundwork within the designated compound that will accommodate both the BESS and necessary electrical infrastructure.
