Statera and Statkraft sign 15-year partnership

Independent UK power producer Statera Energy and Statkraft have announced a 15-year strategic partnership to realise 1GW of energy storage and flexible gas-powered generation.

Statera Energy backed by global investment manager InfraRed Capital Partners, will continue to develop, build, own and operate its flexible gas generation and energy storage portfolio throughout the partnership. As new assets come online, they will be integrated into Statkraft’s virtual power plant and advanced trading platform  to complement Statkraft’s 3.8GW UK renewable generation portfolio.  Statkraft will provide market optimisation, trading and risk management services to the assets.

Duncan Dale, head of Statkraft’s markets business in UK, said: “Statkraft recognises the importance of flexible power generation for the provision of secure energy supply in the years to come until multi-day mass energy storage becomes economically viable. It is vital that any new generation capacity is highly efficient and ultra-flexible.”

Statera Energy has been operating two of the UK’s largest batteries (100MW) site 2017, with a further 600MW of projects consented and ready for construction. In 2016 the company commissioned a 50M  gas-fired plant and has since secured consents for a further 200MW of projects which are ready for construction.

Tom Vernon, managing director of Statera Energy, said: “The UK generation mix and electricity market design will continue to evolve rapidly in the coming years, becoming increasingly volatile and challenging to trade. Statkraft will optimise the increasing dependence that its renewable portfolio has on flexible generation and storage, to help balance the electricity system using Statera’s assets for the next 15 years.”

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