Statera Energy has reached financial close on its 680MW/1360MWh Carrington battery energy storage project in Greater Manchester.
The company said the £235m facility will be financed by Lloyds as sole structuring bank alongside NatWest, Santander, Siemens Financial Services through Siemens Bank, SEB and Mizuho as mandated lead arrangers.
Statera said Carrington will deliver power to up to 2.2 million homes for two hours once operational, supporting grid stability and reducing renewable curtailment.
The company added that the project marks a major step toward its goal of deploying more than 5GW of battery storage capacity by 2030.
Statera said it is partnering with Statkraft to provide market access and revenue guarantees.
Construction is underway with energisation planned for late 2026.
According to the company, the project will support more than 200 jobs at peak, boosting local employment and skills.