Standard Chartered Backs UK Solar and Energy Storage Systems

Standard Chartered is advancing its role in energy finance with a new commitment to support renewable energy development across the UK, backing both solar generation and battery storage infrastructure. 

The bank is supporting a senior secured financing facility of up to £500m (US$677.3m) aimed at scaling solar photovoltaic (PV) capacity alongside co-located battery energy storage systems (BESS). 

The financing spans the full lifecycle of solar projects, from development through to operation, reflecting the growing need for integrated energy systems that balance supply and demand.

Structuring large-scale renewable capacity

Amalfi Finance Company, a wholly owned entity of Elgin Energy, raised the financing to support a portfolio of up to 1GW of solar PV capacity across the UK.

Standard Chartered acts as mandated lead arranger, lender, bookrunner and hedging counterparty, structuring the financing to support long-term deployment. The inclusion of battery energy storage systems is central to the model, enabling excess solar power to be stored and used during periods of lower generation.

The portfolio-based structure allows additional projects to be incorporated over time, supporting what the bank describes as “progressive development” of renewable assets. This flexible approach is designed to maintain financial discipline while allowing expansion as projects move forward.

Elgin Energy, backed by Copenhagen Infrastructure Partners and its CI V fund, is involved in the development of the solar portfolio, bringing investment and operational expertise to the programme.

Supporting UK decarbonisation goals

The financing aligns with the UK’s target to deliver a largely decarbonised power system by 2030. Expanding utility-scale solar capacity is a key part of that effort, particularly when paired with storage systems that improve grid stability.

Philippe Tabouis, Head of Infrastructure and Development Finance Group for Europe at Standard Chartered, outlines how the structure supports deployment.

“This transaction illustrates how portfolio-based financing can support the scalable deployment of renewable energy at pace,” says Philippe. 

“By partnering with Elgin Energy and Copenhagen Infrastructure Partners, we are providing long-term capital and disciplined structuring to support the development of large-scale solar assets that contribute to the UK’s clean energy ambitions and create a platform for continued growth.”

Expanding investment across the energy system

Standard Chartered’s activity in the UK extends beyond solar generation. In May 2025, the bank supported financing of £1.036m ($136m) for the construction of a 15.8GW battery gigafactory in England.

This facility supports the electric vehicle supply chain by enabling large-scale battery production, linking renewable energy generation with transport electrification. The project is also expected to contribute to local economic activity in Sunderland.

Saif Malik, UK CEO and Head of Banking & Coverage at Standard Chartered, connected these investments to the bank’s broader strategy.

“Supporting the transition to net zero is deeply embedded in how we operate as a bank and this project reflects how we bring that to life by supporting clients on their own sustainability journeys,” he said at the time. 

Alongside individual projects, Standard Chartered has set wider targets for sustainable finance. 

The bank aimed to reach net-zero emissions in its own operations by 2025 and extend that ambition across its financing activities by 2050. It also plans to mobilise US$300bn in sustainable and transition finance by 2030, supporting clients as they expand renewable energy capacity and invest in low-carbon technologies.