Herbert Smith Freehills Kramer advises Statera Energy on BESS project
Published by Jessica Casey,
Editor
Energy Global,
Herbert Smith Freehills Kramer has advised Statera Energy as lead borrower counsel on its 680 MW battery energy storage system (BESS) project in Carrington, near Manchester, the UK. The firm advised on project financing, hedging, route to market, regulatory, floor arrangements, real estate, planning, and diligence aspects.
The syndicate of lenders was led by Lloyds, who also acted as sole structuring bank. The other mandated lead arrangers comprised Skandinaviska Enskilda Banken AB (publ), Mizuho, NatWest, Santander and Siemens Financial Services (through Siemens Bank).
The Herbert Smith Freehills Kramer team was led by London Finance Partner, Dhananjaya Chak, supported by Senior Associate, Emma Sturt, and Associates, Amaryllis Tian and Jenny Seong in Finance.
The core team included Partner and Global Head of ESG/Sustainability, Silke Goldberg, of Counsel, Chris Davis, and Senior Associate, Sam Cundall, who advised Statera Energy on a bespoke offtake strategy with Statkraft. Partner, Sebastian Taylor, Senior Associate, Ezra Smith, and Associates, Tom Shattock and Tom Sycamore, advised on real estate matters. Senior Associate, Oliver Grabowski, and Associate, Shannon Smyth, led on diligence aspects. Partner, Tim Healey, and Associates, Ieva Fiddes and Ross Jenkins, advised on aspects relating to construction, and Managing Partner of the UK and EMEA Real Estate practice, Matthew White, and Senior Associate, Natasha Hyde, advised on planning aspects. Partner, Nick May, and Associate, Konstantin Korennoy, advised on hedging documentation.
Partner, Dhananjaya Chak, commented: “This is our third successful debt close working with Statera Energy since 2023 and our first mandate acting for the company as borrower counsel. This transaction underscores the trust our clients choose to place in us to deliver first-of-a-kind strategies and to navigate complex financings in response to a rapidly evolving energy storage market. We’re very proud to have supported Statera Energy, a key client of the firm in the energy transition space, in achieving financial close on Carrington on schedule and look forward to working with them on their exciting pipeline of projects.”
CMS advised on negotiating the construction contracts.
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Read the article online at: https://www.energyglobal.com/energy-storage/06112025/herbert-smith-freehills-kramer-advises-statera-energy-on-bess-project/
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