Statera Energy raises £300m in debt financing to expand UK energy storage capacity
Lloyds Bank led the debt syndicate to back the development of large scale battery storage and flexible generation infrastructure.
Share allotment filed at Companies House
Statera Energy develops, owns, and operates energy storage and flexible generation assets designed to support the UK power grid.
Statera Energy has secured £300m in debt financing through a banking syndicate led by Lloyds Bank to expand its energy storage and flexible generation portfolio.
The initial £144m tranche will support the construction of the Thurrock Battery Energy Storage System near Greater London, with the remainder funding a 270MW flexible generation plant.
The financing supports the company as it advances a project pipeline exceeding 16GW towards a target of 7.5GW operational capacity by 2030.
From the founder
"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. We are delighted to have worked with Lloyds, the syndicate of lenders, and Statkraft in achieving this significant milestone."
Tom Vernon
CEO and Founder at Statera Energy
Investor perspective
"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."
James Taylor
Managing Director, Head of Infrastructure and Project Finance, Lloyds Bank
Use of funds
- 01Build out infrastructure
Investors
About the company
Statera Energy
Statera Energy develops and operates flexible energy storage and generation assets for the UK power network.