Statera Energy has closed the financing of Carrington Storage, a flagship 680 MW / 1360 MWh battery energy storage system (BESS) located at the Trafford Low Carbon Energy Park in Greater Manchester. Once operational, the system will be capable of supplying instant power to 2.2 million homes for up to two hours, enhancing the flexibility of the UK’s electricity grid and supporting the country’s net-zero objectives. Construction began in autumn this year, with commissioning expected by the end of 2026.
The company, a UK-based developer and operator of flexible generation and energy storage systems, has secured ?235 million in financing to support the execution of the project. Lloyds acted as the sole structuring bank, while NatWest, Santander, Siemens Financial Services (via Siemens Bank), SEB and Mizuho served as mandated lead arrangers. The lender group has provided a term loan, a VAT facility and a liquidity line, reflecting growing institutional confidence in large-scale battery storage as a pillar of the energy transition.
Statkraft, a leading provider of market access and optimisation services, will manage the project’s trading and revenue, building on its existing strategic partnership with Statera, which already includes more than 1 GW of contracted capacity.
The project is being developed in collaboration with Envision Energy, which will supply the BESS units, along with AECOM, Siemens, Siemens Energy, Hitachi Energy and other contractors. Local firm ACS Construction Group is responsible for civil works, while Roger Bullivant Limited is carrying out piling and prefabricated foundation work. At peak construction, the project is expected to generate more than 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. The company currently has 2.1 GW of battery storage systems in operation and under construction, including the recently energised 300 MW Thurrock Storage project. Statera plans to advance three additional investments over the next 12 months, representing more than 1 GW of further BESS capacity.
The completion of financing marks a major milestone for Statera as it progresses toward its target of having more than 5 GW of operational BESS capacity by 2030. Carrington Storage will operate alongside long-duration storage systems and other flexible technologies to capture surplus renewable energy and release it when needed, helping to balance variability in renewable generation and reduce costly curtailment. This flexibility is considered essential to achieving the UK Government’s goal of decarbonising the electricity system by 2030.
