Statera Energy, a UK based energy storage and flexible generation developer and operator, has secured up to £300 million of debt financing through a syndicate led by Lloyds Bank. The first £144 million phase of the financing will be used to deliver Statera’s 300 MW (600 MWh) Thurrock Battery Energy Storage System (BESS). Furthermore, the balance of the financing will fund the development of a 270 MW flexible generation plant which secured a capacity market contract early in 2023.
The BESS project, located near Greater London, is the initial stage of Statera’s wider Thurrock development plans to enter construction. Statera has already secured consent for a total of 900 MW of energy storage and flexible generation assets at the site, classified by the UK Government as a ‘Nationally Significant Infrastructure Project’. Reportedly, 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.
Earlier this month, The UK and Germany entered into a new partnership that aims to improve the production of renewable energy and ensure long-term energy security for both countries. Furthermore, the agreement provides a framework for future energy and climate cooperation while reducing regulatory limitations on renewables, particularly offshore wind and electricity connections in the North Sea.
