UK-based energy storage developer, Statera Energy, has achieved financial close for the
680 MW / 1360 MWh Carrington Storage project at Trafford Low Carbon Energy Park in Greater Manchester.
The project is designed to deliver instantaneous power to around 2.2 million homes for up to two hours once operational. Construction started this year, with completion expected by late 2026.
The £235 million ($287 million) financing for Carrington Storage was arranged by syndicate of leading banks, including Lloyds, NatWest, Santander, Siemens Financial Services through Siemens Bank, SEB, and Mizuho. Lloyds served as the Sole Structuring Bank, while the other institutions acted as Mandated Lead Arrangers. The financing includes a term loan, VAT facility, and liquidity facility, highlighting institutional involvement in large-scale energy storage supporting the UK’s move toward a flexible, renewable-based power system.
Statkraft, a market access and optimization services provider, is supporting the project through a route-to-market and revenue guarantee agreement. The two companies have an existing partnership exceeding 1GW of contracted capacity. The engineering and construction phase include partners such as Envision Energy, supplying the battery systems, along with AECOM, Siemens, Siemens Energy, and Hitachi Energy. Local firms including ACS Construction Group and Roger Bullivant Limited are managing civil works, piling, and foundation delivery.
Tom Vernon, CEO, Statera Energy, said, “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.”