A next-generation energy company specialising in onsite renewable generation has closed a £50 million debt facility with Aldermore Bank, enabling an ambitious expansion of its commercial energy infrastructure portfolio.
Wattstor, which delivers low-cost renewable electricity to commercial and industrial clients, secured the substantial financing package in January 2025 with legal advice from leading law firm Freeths. The facility is designed to accelerate the rollout of the company’s Price Protect project pipeline, which offers businesses greater long-term energy cost certainty whilst reducing their exposure to volatile electricity markets.
The financing structure combines the new debt facility from Aldermore with additional equity investment from Ara Partners, Wattstor’s private equity backer. This dual funding approach provides the capital needed to support an aggressive growth trajectory over the coming months.
Initially, the Aldermore facility will part-finance Wattstor’s first three Price Protect installations. However, the arrangement has been structured to allow further drawdowns as additional projects achieve financial close, creating a flexible funding mechanism that can scale with the business. The company has set its sights on financing more than 15 projects within the next 12 to 24 months.
Wattstor’s business model centres on developing, installing and operating both renewable generation systems and battery energy storage solutions directly at customer sites. This approach allows commercial and industrial energy users to access competitively priced renewable electricity whilst gaining protection against the price fluctuations that have characterised energy markets in recent years.
Aldermore Bank, a UK specialist lender focused on small and medium-sized enterprises, provided the debt financing through its dedicated energy and infrastructure finance team. The bank has built a track record supporting renewable energy and infrastructure projects across the United Kingdom.
The Freeths legal team was led by Banking & Finance Partner Amy McVey, who coordinated the transaction alongside Head of Clean Energy Clare King. Corporate Managing Associate Megan Atack also played a key role, supported by Banking & Finance Associates Rebecca Banner and Jay Elder.
Reflecting on the transaction, Amy McVey said: “This transaction provides Wattstor with a flexible and scalable funding platform to support the continued rollout of its Price Protect portfolio. It was a pleasure to work with the Wattstor team and the wider adviser group on a deal that has been carefully structured to accommodate ongoing project deployment.”
The deal represents a significant milestone for Wattstor as it seeks to capitalise on growing demand from businesses looking to secure more predictable energy costs. With corporate energy users increasingly prioritising both cost management and sustainability objectives, the market for onsite renewable installations and battery storage systems has expanded considerably.
The structured nature of the financing arrangement reflects the project-by-project deployment model common in the renewable energy sector. Rather than deploying all capital at once, the facility allows Wattstor to draw down funds as individual installations progress through development and reach the point where they can be financed and constructed.
This phased approach reduces risk for both the lender and the borrower whilst ensuring capital efficiency. It also provides Wattstor with the working capital flexibility needed to manage multiple projects simultaneously at different stages of development.
Freeths is a top 50 commercial law firm, trusted by leading private and public sector clients including Centrica PLC, ENGIE, Aldi, Mercedes-Benz UK, Tarmac, Experian, and Lloyds Bank.
Recognised for its landmark High Court victory for 555 sub-postmaster clients against the Post Office – one of the most significant miscarriages of justice in British legal history – Freeths continues to advise on the subsequent GLO and Horizon Convictions Redress compensation schemes.
As a certified B Corporation (B Corp), Freeths is committed to responsible business practices, demonstrating its focus on delivering the highest standards of environmental and social impact, governance and inclusion. This commitment is reflected in accolades such as Diversity Champion status from Stonewall, Gold accreditation from Investors in People (2025), Tommy’s Champion status (2025), and recognition as a Top 30 Employer by Working Families (2025). Freeths is also featured in the Legal 500 Green Guide 2026 for its sustainability leadership.
An award-winning firm, Freeths has been named Law Firm of the Year at the City AM Awards 2025 and the Legal Business Awards 2024, and was runner-up for UK Firm of the Year at The Lawyer Awards 2025.
