Statera Energy said on Thursday it has reached financial close on its 680-megawatt (MW) / 1,360-megawatt-hour (MWh) Carrington battery energy storage project in Greater Manchester, marking one of the UK’s largest standalone battery developments to date.
The £235 million facility will be financed by Lloyds as the sole structuring bank, together with NatWest, Santander, Siemens Financial Services through Siemens Bank, SEB and Mizuho acting as mandated lead arrangers, the company said in a statement.
Once operational, the Carrington project will be capable of supplying electricity to up to 2.2 million homes for two hours, helping to stabilise the national grid and reduce renewable energy curtailment, according to Statera.
The company said the project represents a significant milestone toward its target of deploying more than 5 gigawatts (GW) of battery storage capacity by 2030. Construction is already underway, with energisation expected in late 2026.
Statera is partnering with Norwegian utility Statkraft to provide market access and revenue guarantees for the project.
“Carrington is a major step forward in delivering the flexible energy infrastructure the UK needs,” a Statera spokesperson said. “By enabling renewable power to be stored and dispatched when needed, we can help strengthen grid resilience and accelerate the energy transition.”
The company said the project will support more than 200 jobs at peak construction, contributing to local employment and skills development in the Greater Manchester area.
