EQT Infrastructure VI fund has recently entered into an agreement to acquire Statera Energy, a well-established player in the UK's energy storage and flexible generation sector, from InfraRed Capital Partners. Headquartered in London and founded in 2015, Statera Energy has earned a reputation as a key player in the realm of battery storage, green hydrogen, and flexible energy generation, with a strong track record in project development.
Statera Energy stands out as an early entrant in the battery storage domain, recognizing the pivotal role of other flexible technologies such as pumped hydro and green hydrogen production. These technologies are instrumental in supporting the UK's transition towards a predominantly intermittent renewable energy supply, a critical aspect of the country's clean energy future.
The company currently boasts 1GW of flexible generation capacity in operation and under construction, sufficient to power approximately 750,000 homes. Moreover, Statera Energy has an impressive project pipeline exceeding 16GW, with ambitious plans to deliver 7.5GW of flexibility assets by 2030. These figures underscore the company's commitment to making a substantial impact on the UK's energy landscape.
EQT Infrastructure's involvement will provide vital support to the Statera management team and platform, offering access to growth capital that will expedite the deployment of flexible generation assets across the UK. Drawing on its extensive experience in owning and developing companies focused on driving the energy transition, EQT Infrastructure will also tap into the expertise of its vast global network of industrial advisors, comprising 600 experts.
Francesco Starace, a partner within the EQT Infrastructure Advisory Team, emphasized the urgency of embracing flexible generation and energy storage solutions in a world increasingly reliant on intermittent renewables and striving for Net Zero emissions. He highlighted the importance of public and private sector collaboration, capital investment, and innovation to accelerate the energy transition, marking the partnership between EQT and Statera as a significant step in this direction.
Tom Vernon, the founder and chief executive of Statera, stressed the need for deploying flexible generation and energy storage technologies at scale to support the extensive integration of renewables required for decarbonizing power systems. Statera Energy is dedicated to addressing this challenge by developing and operating projects that provide grid resilience and flexibility.
The transaction is currently pending customary conditions and approvals and is anticipated to close by the end of the year. This acquisition promises to be a significant milestone in advancing the renewable energy sector and driving the transition to a more sustainable and resilient energy grid in the UK.
