Ariel Green’s Technology Performance Insurance backs the Plymouth and Dowlais projects in what the companies describe as the first such policies for UK battery energy storage.
Pulse Clean Energy said it has closed financing for two battery energy storage projects in the United Kingdom, supported by Ariel Green’s Technology Performance Insurance, or TPI (long-term performance risk cover). The company said the policies for the Plymouth and Dowlais projects, which are under construction, are the first TPI contracts written for battery storage projects in the UK market. The cover provides protection for up to 13 years, aimed at supporting project financing while giving Pulse more flexibility to manage the assets over their operating lives. The tailored insurance is designed around the technical and commercial risks of each project and is intended to let Pulse replace components over time without losing long-term risk protection. The companies said that structure can also improve lender confidence in the assets’ long-term performance and reliability, an important consideration as battery storage developers seek to secure capital for large infrastructure projects. Pulse and Ariel Green framed the transaction as part of a broader shift toward more specialized risk-transfer tools for clean energy infrastructure as energy storage deployment accelerates in Europe and globally. Aon acted as broker on the deal and Eversheds Sutherland served as legal adviser.