Swedish private equity firm EQT Infrastructure is set to acquire leading UK battery storage platform Statera from InfraRed Capital Partners, marking a major deal in the British energy-transition sector.
The deal purportedly values London-based Statera at more than £500 million, according to inside sources speaking with Bloomberg.
Statera has been at the forefront of the country's path towards decarbonisation, having developed a reputation for its state-of-the-art battery storage solutions and flexible generation assets, which are seen as vital components in the shift away from fossil fuels.
The group has one gigawatt of flexible generation in operation and under construction, which is enough to power around 750,000 homes.
By 2023, Statera aims to deliver 7.5 gigawatts of flexibility assets.
Tom Vernon, managing director of Statera, expressed his views on the acquisition and the UK's decarbonisation efforts, stating: "It is essential that flexible generation and energy storage technologies are deployed at scale to enable the vast amounts of renewables required to decarbonise power systems.
“Statera directly addresses this challenge by developing and operating projects which provide the resilience and flexibility required to balance the grid.”
Vernon called the deal a “significant milestone” that comfortably positions Statera to deliver its pipeline of battery, pumped hydro and green hydrogen technologies.
The deal is expected to close by the end of the year, pending customary conditions and approvals.