Conrad Energy powers ahead with the UK’s energy transition, supported by Close Brothers Leasing

Conrad Energy are delighted to have Close Brothers Leasing as a partner in their mission to bring the UK’s energy transition to fruition.

As Conrad Energy builds out its renewable portfolio Close Brothers Leasing have signed an agreement to provide an £85million funding facility concentrating on Conrad Energy’s battery storage capability.

This deal will fund eight sites across the UK, one of which is already operational with the remainder to come online in the first quarter of this year. The importance of battery technology in harnessing the power of renewables is well understood. The sun does not always shine and the wind does not always blow but with battery technology proliferation their energy can still be fed consistently into the grid. The more battery sites the UK can call upon, the faster our transition to net zero can become a reality.

The Close Brothers Group has a focus on helping the people and businesses of Britain thrive over the long term, including addressing the environmental challenges facing their business, employees and customers, now and into the future.

Conrad Energy’s clear ESG strategy and strong track record in delivering the elements required for the energy transition make them a solid investment choice and an obvious partner.

“Conrad Energy’s portfolio of battery storage developments provides significant stability to the grid and balances intermittent generation from renewables, increasing energy security and playing a vital role in the UK’s energy transition to a lower carbon economy.”

Steven Hardman, CEO, Conrad Energy

“This deal is further proof of our commitment to expanding our lending in this growing sector, which is key to the UK’s energy mix and essential in accelerating the replacement of fossil fuels with renewable energy.

Battery storage systems are really beginning to come into their own and are becoming pivotal in responding to electricity demands.”

Gareth Palmer, Head of Sales for the Energy team, Close Brothers Leasing