Statera Energy of the UK has secured up to £300 million of debt financing from Lloyd’s Bank for a 300 MW/600 MWh battery energy storage system (BESS).
The Thurrock project combines a 300 MW/600 MWh BESS and a 270 MW gas-fired power plant. The first £144 million of the financing will be for the BESS system while the remainder will fund the gas-fired power plant.
Statera has planning consent for 900 MW of energy storage and generation at the site, and the overall project is classed as a nationally significant infrastructure project (NSIP). Statera has not stated a timescale for completion of the projects, but did say that it expected the BESS to start construction first.