Statera develops, builds, owns and operates large-scale, grid-connected energy storage and flexible generation assets, helping to balance the grid at best value for energy users and supporting the UK’s transition to a low-carbon future. As an early investor in the UK energy storage space, InfraRed was able to help Statera realise its early-mover advantage in the sector by securing strategically located development sites and forming key strategic partnerships. Over the period of its investment since 2017, InfraRed has helped to rapidly scale the company, supporting management to grow the platform’s capabilities to a best-in-class fully integrated Independent Power Producer model and build out its operational portfolio. The company now has 1GW of operational or in construction assets and a development pipeline of over 16GW across a diversified range of energy storage technologies including battery storage, pumped storage hydro and green hydrogen.
Stephane Kofman, Head of Capital Gain Funds at InfraRed Capital Partners said:
“Having identified early on the fundamental need for flexibility and storage, we are very pleased to have worked closely alongside management to create a company that is a now a market leader and is playing a key role in facilitating the UK’s energy transition to a low carbon, high renewables future.
“Throughout our ownership we have continued to support management in evolving and implementing the company strategy, growing the operational and development asset base, actively mitigating revenue volatility and helping to add key infrastructure capabilities across the organisation.”
InfraRed was advised by Macquarie Capital and CMS on the transaction.
About InfraRed Capital Partners
InfraRed Capital Partners is an international infrastructure investment manager, with more than 190 professionals operating worldwide from offices in London, New York, Sydney and Seoul. Over the past 25 years, InfraRed has established itself as a highly successful developer and custodian of infrastructure assets that play a vital role in supporting communities. InfraRed manages US$14bn+ of equity capital1 for investors around the globe, in listed and private funds across both income and capital gain strategies.
A long-term sustainability-led mindset is integral to how InfraRed operates as it aims to achieve lasting, positive impacts and deliver on its vision of Creating Better Futures. InfraRed has been a signatory of the Principles of Responsible Investment since 2011 and has achieved the highest possible PRI rating2 for its infrastructure business for seven consecutive assessments, having secured a 5 star rating for the 2021 period. It is also a member of the Net Zero Asset Manager’s Initiative and is a TCFD supporter.
InfraRed is part of SLC Management, the institutional alternatives and traditional asset management business of Sun Life. InfraRed represents the infrastructure equity arm of SLC Management, which also incorporates BGO, a global real estate investment management adviser, and Crescent Capital, a global alternative credit investment asset manager.
- Data as at Q4 2022. Equity Capital is calculated using a 5-year average FX rate
- Principles for Responsible Investment (“PRI”) ratings are based on following a set of Principles, including incorporating ESG issues into investment analysis, decision-making processes and ownership policies. More information is available at https://www.unpri.org/about-the-pri
