Private equity firm EQT AB has made a major acquisition in the UK’s battery storage sector with its purchase of Statera Energy Ltd.
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The deal, valued at over £500 million ($620 million), will allow Statera to expand its operations and contribute to the country’s energy transition.
Statera Energy, based in London, specializes in battery storage, green hydrogen, and pumped hydro projects.
It currently has 1 gigawatt of flexible generation capacity in operation and under construction, which can power roughly 750,000 homes.
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The company has ambitious plans to deliver 7.5 gigawatts by 2030, with a total project pipeline of over 16 gigawatts.
The acquisition marks a significant move for EQT, with former Enel SpA executive Francesco Starace playing a key role in the deal.
Starace, now a partner in EQT’s infrastructure advisory team, expressed confidence in the potential of the battery storage sector and other emerging technologies.
Investment in the energy transition is increasing as countries worldwide aim to transition to renewable power sources.
EQT has previously invested in other sustainable energy companies, such as Instavolt, an EV charging infrastructure operator, and Encyclis, a low-carbon energy-from-waste provider.
The demand for flexible power generation is growing rapidly in the UK, with £70 billion of investments required by 2030 to support the transition away from traditional fossil fuel sources.
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Statera Energy is committed to being a major player in this growth and believes that battery technology is just one part of the solution.
As the energy transition accelerates, a variety of technologies will be necessary to ensure grid stability.
The EQT acquisition of Statera Energy represents a significant milestone in the battery storage sector.
It demonstrates the increasing importance of innovative solutions in the energy transition and highlights the potential for wide-scale deployment of clean energy technologies.
With EQT’s support, Statera Energy will contribute to the UK’s clean energy goals and help drive the transition to a more sustainable future.
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