Energy
Ares takes stake in UK flexible energy portfolio
Ares Infrastructure Equity has acquired a minority interest in Statera Energy's operational portfolio in the UK.
Key points
- Ares Infrastructure Equity purchased a minority stake in Statera Energy's 1.9GW UK portfolio.
- The transaction includes major projects such as the Carrington Storage and Thurrock Flexible Generation sites.
- Statera aims to expand its flexible capacity to 7GW by 2030.
What happened
Ares Infrastructure Equity funds have acquired a minority stake in a portfolio of operational energy storage and flexible generation assets located in the United Kingdom, according to Power Technology. The assets are majority-owned by Statera Energy, marking Ares Infrastructure Equity's initial entry into the European market.
The 1.9GW portfolio encompasses several developments, notably the 680MW Carrington Storage facility in Greater Manchester alongside the 750MW Thurrock Flexible Generation site in Essex. Following the conclusion of the deal, Statera remains the owner, operator, and manager of the infrastructure.
Why it matters
Power Technology reported that the transaction provides funding to advance Statera's broader development pipeline, which spans approximately 16GW. The company intends to reach 7GW of flexible capacity by the end of the decade.
Statera CEO Tom Vernon stated that the backing serves as validation of the firm's operational capabilities. Keith Derman, a partner at Ares, noted that the investment aligns with the fund's strategy to support infrastructure tied to the energy transition.
What comes next
Statera will continue managing its operational assets while progressing its pipeline of projects. The capital injection is intended to assist the firm in supplying balancing infrastructure designed to integrate higher shares of intermittent renewable generation into the electricity network.
Original reporting
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