The facility upsize with expanded flexibility underscores strong institutional confidence in Revera's proven development capabilities and positions the platform to capitalize on the unprecedented demand for grid-scale energy infrastructure in both countries, which both rank among the top five markets globally for battery storage assets. Revera benefits from strategic partnerships with leading financial institutions across its capital structure, and Nomura will continue to broaden these relationships through its role as Sole Bookrunner and Lead Arranger for this new credit facility, which is expected to be upsized in the near term.
Norton Rose Fulbright served as lender’s counsel and A&O Shearman acted as borrower’s counsel.
Australia Portfolio Advancement:
Support construction of the 150MW / 300MWh Bungama Stage 1 battery storage project in South Australia, which is expected to reach commercial operation date (“COD”) in Q2 2026.
Accelerate development of at least 600MW / 2,400MWh of additional battery storage capacity across the NEM, with the next 250MW project expected to hit notice to proceed (“NTP”) in Q3 2026 and the majority of the overall pipeline having already secured land, grid, and planning.
Optimize 158MW of operational solar farms under management in New South Wales.
UK Market Expansion:
Accelerate development of at least 1,000MW / 2,000MWh of late-stage battery storage projects, with the first 200MW project expected to hit NTP in Q1 2026 and the next two projects totaling 800MW expected to follow over the next 12 months, with each having secured land, grid, and capacity market contracts.
Strengthen grid resiliency and solve a key transmission bottleneck enabling stranded Scottish wind to flow south to demand centers in England, further supporting national decarbonization commitments and continued renewables additions to the UK grid.
Ultimately resulting in one of the largest BESS platforms in Europe.
Strategic Market Positioning
“This funding enhancement accelerates Revera’s ability to take advantage of increasing demand in Australia and the UK for grid-scale storage and renewable generation capacity, supporting its continued progress as a leading player in the sector,” said Richard Hoskins, Chairman of Revera Energy and Managing Director in Carlyle's Infrastructure Group.
"This facility upsize represents a transformational step in Revera's growth as we scale our platform to meet the urgent infrastructure needs of both the Australian and UK energy markets," said Andy Hoffman, CFO of Revera.
Revera's integrated approach across battery storage and renewable generation positions the platform to address the full spectrum of energy transition requirements. The company's focus on grid-scale infrastructure directly supports both markets' decarbonization objectives while providing essential services including frequency response, voltage support, and renewable energy firming.
The expanded facility enables Revera to maintain its competitive advantage in securing premium development sites, advancing projects through complex approval processes, and delivering operational assets that provide long-term, stable returns for investors while enhancing grid reliability and sustainability goals.
