DLA Piper, Herbert Smith Freehills Kramer (HSF Kramer) and Paul, Weiss advised on Ares’ investment in Statera Energy.
Ares Infrastructure Equity funds, affiliates of Ares Management Corporation, acquired a significant minority stake in Statera Energy’s approximately 1.9GW portfolio of UK storage and flexible generation assets. Statera Energy is a UK-based developer and operator of energy storage and flexible generation.
The transaction represents one of the largest transactions of its kind in the European flexibility market to date.
The portfolio 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.
The investment will support Statera’s growth plans and its 16GW development pipeline.
DLA Piper advised Ares Infrastructure Equity funds on the acquisition of a significant minority stake in Statera Energy.
The DLA Piper team was led by Partners Natasha Luther-Jones and Stephen Atkinson and Senior Associate Simon Winterburn. They were supported by Partners Rubayet Choudhury, Dean Peachy and David Thompson; Senior Associates Megan Williams and Griffin O’Rouke; and Associates Katie Brown, Marcus Miller and Harvey Clark.
Herbert Smith Freehills Kramer advised Statera Energy in connection with the investment.
The Corporate Energy team was led by Partners Silke Goldberg and Sam Cundall, supported by Senior Associate Oli Grabowski and Associates Csilla Cao and Shannon Smyth.
The Finance team was led by Partner Dhananjaya Chak, with Senior Associates Emma Sturt and Isabela Castro and Associates Kimia Famil Dardeshti and Jenny Seong.
Partner Tim Healey, Senior Associate Nikolai Nesterov and Associate Ieva Fiddes advised on aspects relating to construction and operations.
Partner Sebastian Taylor, Senior Associates Ezra Smith and Natasha Hyde and Associates Tom Shattock and Abbie Leakey advised on real estate and planning matters.
Paul, Weiss advised EQT and its portfolio company Statera Energy on the investment by Ares.
The Paul, Weiss team was led by Corporate Partners Paul Foote, Gemma Cullen and Tom Levine, and included Tax Partner Timothy Lowe and Antitrust Partner Ross Ferguson.
