[Funding alert] London-based Statera Energy Raises £300 Million in Debt Funding

The balance of the financing will fund the development of a 270MW flexible generation plant which secured a capacity market contract early this year.

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The BESS project, located near Greater London, is the first stage of Statera’s wider Thurrock development plans to enter construction. Statera has already secured consent for a total of 900MW of energy storage and flexible generation assets at the site, classified by the UK Government as a ‘Nationally Significant Infrastructure Project’.

Lloyds Bank acted as the Sole Structuring Bank for the debt financing facilities and Mandated Lead Arranger and Hedge Provider in a multi-bank transaction, which included NatWest, Santander, and Siemens Financial Services through Siemens Bank.

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The successful financing of the Thurrock BESS project is the latest in a series of milestones for Statera, which recently secured funding from Swedish Private Equity firm, EQT Infrastructure. It marks the next phase of the company’s growth as it progresses its project pipeline of over 16GW, of which 7.5GW is expected to be operational by 2030.

Statera’s CEO and Founder, Tom Vernon said: "Lloyds’ commitment to Statera, through one of the largest battery storage debt financing deals in the UK to date, is testament to the quality of our projects. Our Thurrock BESS project is strategically located near to Greater London providing further energy system resilience to this key demand centre. System flexibility in the form of energy storage technologies is a crucial part of achieving energy security, decarbonising our power system, and enabling the UK’s transition towards net zero. We are delighted to have worked with Lloyds, the syndicate of lenders, and Statkraft in achieving this significant milestone."

Managing Director, Head of Infrastructure and Project Finance at Lloyds Bank, James Taylor, said: "By storing excess energy, Statera’s technology ensures the UK’s increasingly renewables-led power system can deliver all day and all year round, promoting security and stability, reducing carbon emissions and, ultimately, helping to lower people’s energy bills. The financing we’ve arranged will provide a platform for Statera to continue to develop its portfolio of assets across the UK. We’re excited to see what the team achieves next and to support more businesses and infrastructure projects leading the UK’s renewable energy transition."

About Statera Energy

Statera Energy is an energy firm founded in the United Kingdom that designs, finances, and operates projects related to green hydrogen, pumped hydro, flexible production, and battery storage.

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These resources will enable the UK to develop its renewable energy portfolio more swiftly by offering the adaptable capacity needed to balance the grid in the future, decrease carbon emissions, and maximise value for energy consumers.