UK-based, Statera Energy has reached financial close on Carrington Storage, a 680MW / 1360MWh battery energy storage system (BESS) located at the Trafford Low Carbon Energy Park in Greater Manchester.
Once energised, Carrington Storage will have the capacity to deliver instantaneous power to 2.2 million homes for up to 2 hours, supporting the UK’s transition to a renewable-led energy system. Construction began in autumn this year, with energisation targeted for late 2026.
Statera has secured £235 million of debt financing to support delivery of this project. Lloyds acted as Sole Structuring Bank, with NatWest, Santander, Siemens Financial Services through Siemens Bank, SEB and Mizuho as Mandated Lead Arrangers. The syndicate is providing a term loan, VAT facility and liquidity facility, underscoring growing institutional confidence in large-scale battery storage as a critical enabler of the energy transition.
Statkraft, a leading provider of market access and optimisation services, is providing a route to market and revenue guarantee for this project. This builds on Statera and Statkraft’s existing strategic partnership of over 1GW of contracted capacity.
The project will be delivered in close collaboration with Envision Energy, who will supply the BESS units, and contractors including Siemens, Siemens Energy, and Hitachi Energy, among others. Local firm ACS Construction Group is undertaking the civils works, while Roger Bullivant Limited is delivering the piling and precast foundation works. At peak construction Carrington Storage is expected to support over 200 jobs, contributing to regional employment and skills development.
Once operational, Carrington Storage will significantly expand Statera’s portfolio of flexible generation and storage assets. Statera already has 2.1GW of BESS operational and in construction, including recently energised 300MW Thurrock Storage, and is intending to make three further investment decisions in the next 12 months, representing more than 1GW of additional BESS capacity.
“Reaching financial close on Carrington Storage is a major milestone for Statera as we expand our battery storage portfolio. It moves us closer to our goal of over 5GW of BESS capacity operational by 2030, strengthening grid flexibility and supporting the UK’s clean energy transition. We’re grateful to our banking partners for their support and look forward to building on this milestone as we deliver our upcoming projects,” says Tom Vernon, CEO, Statera Energy
Carrington Storage will operate alongside long-duration energy storage and other flexible technologies to store excess renewable energy until it is needed, helping to balance the peaks and troughs of renewable generation and reduce costly curtailment of renewables. This capability is critical to achieving the Government’s target to decarbonise the electricity grid by 2030.
