Watson Farley & Williams advises lenders on £235m financing for 680 MW Carrington BESS project

Watson Farley & Williams advised a consortium of lenders — Lloyds, NatWest, Mizuho, Santander, SEB and Siemens Financial Services through Siemens Bank — in relation to a £235m financing facility granted to Statera Energy to develop a 680 MW battery energy storage system (BESS) project in Carrington, Greater Manchester, UK. The financing will support development of the Carrington BESS, Statera’s largest consented project to date. Due for completion in 2026, the 680 MW scheme is expected, once energised, to be one of the largest BESS installations in Europe. Upon completion the project will be optimised by Statkraft Markets GmbH. Statera, part of the EQT group, is a developer, owner and operator of grid-scale energy storage and flexible generation technology. Founded in 2015, it holds a portfolio of 2.1 GW of operational or in-construction projects across the UK. Watson Farley & Williams represented the lenders — Lloyds, NatWest, Mizuho, Santander, SEB and Siemens Financial Services through Siemens Bank — with a team composed by: Jennifer Charles (London Projects Partner); Sindana Ulaganathan (Associate, Projects); Elias Votta (Associate, Projects); James Fryer (Senior Associate, Project Development); John Rosmini (Partner, Real Estate); Charlotte Williams (Counsel, Real Estate); Mia Langston (Associate, Real Estate); Nick Walker (Partner, Planning & Environment); Hamish Ungless (Associate, Planning & Environment).

Watson Farley & Williams advises lenders on £235m financing for 680 MW Carrington BESS project

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