Noriker lands £20M debt facility from Novuna to build UK battery storage

What's the deal? Noriker PowerDealroom has a profile for this one. Try Dealroom → has secured a £20 million development finance facility from Novuna Business FinanceDealroom has a profile for this one. Try Dealroom → to fund battery energy storage system (BESS) projects across the UK and Republic of Ireland. The facility refinances an existing arrangement and adds new capital to move projects through development, construction, and delivery.

What does Noriker do? A vertically integrated developer, it works across the project lifecycle — from initial development to delivering revenue-generating energy assets. Active in the UK since 2015, it has built 14 utility-scale battery storage and hybrid energy facilities supporting the electricity grid.

What's the endgame? The flexible funding structure backs Noriker's growth plans in a fast-moving market. First Berlin Securities BrokerageDealroom has a profile for this one. Try Dealroom → advised Noriker on the transaction.

What they're saying: "This was an attractive refinancing of an existing facility which provides us with the right kind of support and flexibility in a rapidly developing market," said Marc Thomas, managing director of Noriker.

Philippe Bazin, head of sustainable energy at NovunaDealroom has a profile for this one. Try Dealroom → Business Finance, said the facility would help Noriker "bring projects forward through the development process and into delivery."

The signal: Debt facilities like this one are increasingly the funding of choice for asset-heavy renewable developers, letting them scale grid infrastructure without diluting equity. As UK battery storage capacity races to keep pace with the grid's shift to renewables, lenders are moving to back developers with a track record.

Read more: finance-connect.com

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