NC Pioneer secures project finance for seven battery-storage sites
SMTB Leasing provides non-recourse debt for a Japanese grid-storage portfolio assembled by Nippon Chikudenchi and Remixpoint.
NC Pioneer has entered a project-finance agreement with SMTB Leasing as senior lender for seven high-voltage grid-connected battery-storage facilities in Japan. The financing amount was not disclosed.
The non-recourse structure groups the facilities into one portfolio. The projects are expected to earn revenue from balancing services, wholesale electricity and the capacity market.
Nippon Chikudenchi and Remixpoint jointly invested in the project company, which was formed by eco Properties. The financing is organised around the storage portfolio and its operating revenue.
Use of funds
Finance a portfolio of seven grid-connected battery-storage facilities