Global energy storage owner-operator BW ESS has secured debt financing for its Hams Hall Battery Energy Storage System (BESS) in the West Midlands, a project set to become Europe's largest operational BESS site by MWh at commercial operations date (COD). The announcement was made in London on 22 October 2026.

Under the agreement, international lenders OCBC, Rabobank and Societe Generale will provide the debt facility in equal proportions, with Rabobank also acting as the Facility Agent. The transaction is expected to close at Commercial Operations Date.

The competitive process drew more than 30 lenders

The financing follows a highly competitive process that attracted significant interest from the global banking community, with more than 30 lenders engaged. According to BW ESS, this response reflects the company's proven development and operating track record, as well as the increasingly important role of battery storage in supporting the UK's energy transition.

Nick Stamp, CFO of BW ESS, described the financing as another major milestone for the company and for the wider UK energy storage market. "The exceptionally strong response from lenders demonstrates growing confidence in both the investment case for battery storage and BW ESS' ability to develop and operate strategically important infrastructure assets," he said.

Stamp added that Hams Hall will provide critical infrastructure for balancing the UK's increasingly renewable-powered electricity system while enhancing energy security and reliability for consumers.

Project scale and capabilities

Located adjacent to National Grid's Hams Hall substation in the West Midlands, the project will initially deliver 350 MW / 1,243 MWh of storage capacity. This will rise to 400 MW / 1,424 MWh following completion of the second phase.

Once fully operational, Hams Hall will be capable of supporting the electricity needs of around 1.3 million homes for up to 3.5 hours, helping to integrate renewable energy, increase grid resilience and strengthen the UK's energy security. Long-term revenues for the first phase of the project will be underpinned by a 10-year floor and optimisation agreement signed with EDF earlier this year.

Lenders highlight confidence in battery storage

Ms Elaine Lam, Head of Global Corporate Banking at OCBC, said the bank was delighted to support BW ESS in the successful financing of the Hams Hall BESS facility, calling it a landmark project that will become the largest BESS project by MWh in Europe at completion.

She noted the project will strengthen the resilience and flexibility of the UK power network and supports the energy transition, where battery storage infrastructure is essential to enable greater integration of renewable energy and maintain grid stability. The transaction, she said, reinforces OCBC's commitment to supporting UK energy and infrastructure investment under its USD 13.4 billion MOU with the UK Government.

Gijs Hofman, Executive Director at Rabobank, said the bank was pleased to support the project as Lender, Facility Agent and Hedge provider. He noted that the transaction attracted strong lender interest, reflecting the project's compelling combination of scale, strategic location, high-quality counterparties and the proven track record of BW ESS as a leading battery storage developer and operator. "We see battery storage as a fundamental building block of a flexible, reliable and increasingly decarbonised power system," Hofman said.

Nathalie Lemarcis, Managing Director at Societe Generale, said the bank was pleased to support BW ESS in this landmark financing for one of Europe's largest battery energy storage projects.

She said the transaction highlights the increasingly important role of battery storage in enabling the energy transition, strengthening grid resilience and supporting energy security, and reflects the bank's commitment to financing critical infrastructure.

BW ESS's growing UK portfolio

The financing further strengthens BW ESS' relationships with leading international lenders and supports the company's continued growth across its global portfolio. Hams Hall is part of BW ESS' 2.6 GWh Ardenham portfolio, which is co-owned with leading energy and decarbonisation investor AIP Management.

In the UK, BW ESS currently operates the 331 MWh Bramley BESS in Hampshire, has 1,243 MWh entering operation through Phase 1 of Hams Hall, and 857 MWh under construction at Berkswell. The company also has a broader development pipeline spanning multiple gigawatt hours across the country.

More broadly, BW ESS is active in the UK, Australia, Italy, Germany, Spain and Sweden. It has more than 540 MWh of operating Battery Energy Storage Systems, with approximately 12 GWh under or pre-construction and a development pipeline of several gigawatts. The company is part of BW Group and builds on decades of global infrastructure experience.

Advisers to the transaction

CMS acted as legal adviser to BW ESS, while WFW acted as legal adviser to the lenders. Everoze and Modo Energy acted as technical advisers and market adviser, respectively.

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