WFW, a leading legal firm, has recently advised a consortium of lenders on a substantial £235 million financing package for a groundbreaking 680 MW BESS project. This project, set in Carrington, Greater Manchester, UK, is a significant step towards the UK's decarbonization goals. The BESS project, scheduled for completion in 2026, will be Statera Energy's largest to date and, upon completion, will be one of the largest of its kind in Europe. Once operational, it will be optimized by Statkraft Markets GmbH, a renowned energy company.
Statera Energy, a subsidiary of the EQT group, specializes in building, owning, and operating grid-scale energy storage and flexible generation technology. Founded in 2015, Statera has an impressive portfolio of 2.1 GW of operational or under-construction projects across the UK. This project is a testament to Statera's commitment to advancing the UK's energy infrastructure.
The legal team at WFW, led by Jennifer Charles, a Projects Partner in London, played a pivotal role in this transaction. The team consisted of Associates Sindana Ulaganathan, Elias Votta, and James Fryer, who provided expert advice on project development. Partners John Rosmini, Charlotte Williams, and Mia Langston led the real estate aspects, ensuring a comprehensive approach to the deal. Additionally, Partners Nick Walker and Hamish Ungless contributed their planning and environmental expertise, making this a truly multidisciplinary effort.
Jennifer Charles expressed her pride in the firm's contribution, stating, 'We're proud to have advised on this major UK BESS project, which aligns with the UK's 2030 target to decarbonize its electricity grid. This project not only strengthens Statera's grid resilience and decarbonization efforts but also reinforces WFW's position as a leading legal advisor in the energy sector.'
This project highlights WFW's expertise in the renewable energy sector and its commitment to supporting the UK's transition to a sustainable energy future. As the world embraces clean energy solutions, WFW continues to play a crucial role in facilitating these transformative projects.
