Revera gets Nomura BESS funding
The Carlyle Group-backed Revera has obtained an expanded US$150m credit facility from Nomura to back its battery storage projects in Australia and the UK.
The funding will support construction of the 150MW/300MWh Bungama Stage 1 battery storage project in South Australia, which is expected to reach commercial operation date in Q2 and the development of 600MW/2.4GWh of additional battery storage capacity across the National Energy Market, with the next 250MW project expected to hit notice to proceed in Q3. It will also back the optimisation of 158MW of operational solar farms under management in New South Wales.
In the UK, the funding will back the development of 1GW/2GWh of late-stage battery storage projects, with the first 200MW project expected to hit NTP in Q1 and the next two projects totalling 800MW expected to follow over the next 12 months.
Revera was set up in May with projects in Australia and the UK carved out and acquired from Amp Energy. At the time it said it has relationships with financing partners including Nomura, CBA, Westpac, Natixis and Export Development Canada.
