Ares Infrastructure Equity funds, affiliates of global alternative investment manager Ares Management, have bought “a significant minority stake” in the operational portfolio of Statera Energy.
Statera is a UK-based developer and operator of energy storage and flexible generation and the transaction marks the first investment made by Ares Infrastructure Equity in Europe, Ares said in a statement.
Financial terms were not disclosed, but the investment represents one of the largest transactions of its kind in the European flexibility market to date, the firm added.
The portfolio comprises approximately 1.9GW of storage and flexible generation assets across the UK, which includes the 680MW Carrington Storage project in Greater Manchester and the 750MW Thurrock Flexible Generation project in Essex.
Statera will continue to own, operate and manage the portfolio, with Ares joining as a long-term investment partner.
“Ares is one of the world’s leading investors, and its choice of Statera’s portfolio for its first infrastructure equity investment in Europe is an endorsement of our assets and capability as a business,” said Tom Vernon, CEO of Statera.
“The capital supports our plan to deliver 7GW of flexible capacity by 2030. We look forward to working with Ares as we continue to build and operate the flexible assets needed for a secure and affordable electricity system in the UK and across Europe.”
Ares’ investment reflects its continued commitment to the energy transition and provides significant additional capital to support Statera’s next phase of growth, the firm said.
Statera will continue advancing its 16GW development pipeline, and help deliver the flexible infrastructure needed to balance an increasingly renewables-led electricity system, Ares added.
“We are excited to partner with Statera to further develop and unlock incremental value from this high-quality portfolio,” said Keith Derman, partner and head of infrastructure equity at Ares.
“This investment underscores our conviction in energy transition infrastructure and reflects our belief in the critical role these assets will play in supporting the UK’s evolving energy system.”
With roughly $15m (€13.4m) deployed across more than 60 investments and a team averaging 22 years’ experience, Ares Infrastructure focuses on energy transition, digital infrastructure, sustainable infrastructure, midstream and utilities.
As of 30 June this year, the Ares Infrastructure business had $29.9bn of AUM, with a team of more than 130 investment professionals across the globe.
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