Cero Generation reaches financial close on hybrid renewable energy project
Published by Jessica Casey,
Editor
Energy Global,
Cero Generation, alongside its UK development partner, Enso Energy, has reached financial close on the Bumble Bee project, a co-located utility scale solar photovoltaic (PV) and battery energy storage project, connecting to the West Burton substation near Doncaster in the UK.
The project will deliver 78 MWp of solar PV generation together with a 120 MW battery energy storage system (BESS), strengthening Cero’s UK portfolio and supporting the delivery of reliable, low carbon electricity generation alongside flexible energy storage capacity.
Financial close has been reached with a group of lenders including ING, NORD/LB, Rabobank, and Santander UK. This is the second project to be financed through Cero’s Gemini portfolio facility, following the financial close of the 115 MW Bramley project last summer. That project is now under construction.
Revenues for a portion of the battery will be secured by a long-term tolling agreement with ENGIE. Under the 10-year agreement, ENGIE will optimise 70 MW/140 MWh battery capacity, further strengthening its position in the UK flexibility and energy management market. This is Cero's first tolling agreement and the first tolling agreement signed on a co-located asset in the UK. EDF will provide optimisation services for the remainder of the battery and route-to-market services for the solar PV.
Construction of the Bumble Bee co-located renewable energy project is expected to begin in the coming months. Cero will work with Metlen, the appointed EPC contractor, to deliver the project. JA Solar will supply the solar panels, and Sungrow Power will supply the BESS.
Declan Deasy, CEO of Cero Generation, said: “Reaching financial close on the Bumble Bee co-located renewable energy project is an important milestone for Cero and reflects the continued confidence of our lending partners in our UK portfolio and delivery capability. With Bumble Bee now at financial close, we are on track to achieve our target of over 1 GW of projects in operation across our core markets.”
Bill Rees, Managing Director of Enso Energy, commented: "Reaching financial close on this project reflects both the strength of our partnership with Cero and the dedication of the Enso team. Through the Connection Reform process, early engagement with National Grid Electricity Transmission (NGET) and NESO, including confirmation of connection dates for both technologies, has been invaluable in keeping the project on track.”
“This project also shows why co-location is essential. By constructing solar and battery storage in parallel behind one grid connection, we deliver more capacity, faster and more efficiently, exactly what CP30 is intended to achieve.”
For more news and technical articles from the global renewable industry, read the latest issue of Energy Global magazine.
Energy Global's Winter 2025 issue
Don’t miss out on our final issue of Energy Global this year! The Winter issue begins with a regional report on Africa’s energy future, with articles on topics such as wind turbine components, geothermal drilling & operations and energy storage technology. With contributors including Magnomatics, Flyability, Bachmann electronic GmbH, NOV, and more, don’t miss out!
Read the article online at: https://www.energyglobal.com/electric-hybrid/23022026/cero-generation-reaches-financial-close-on-hybrid-renewable-energy-project/