Statera Energy wins financing for 600 MWh BESS project

• 5 months ago (2023-11-24)
• David Flin

Europe 1061 Gas 371 Storage 37

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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.