EQT’s Statera Receives Investment From Ares

Paul, Weiss is advising EQT and its portfolio company Statera Energy, a UK-based developer and operator of energy storage and flexible generation, on a first-of-its-kind investment by Ares. The investment is one of the largest-ever transactions in the European flexibility market. Under the terms of the agreement, Ares acquired a minority stake in Statera’s 1.9-gigawatt UK storage and flexible generation portfolio underpinning the nation’s evolving energy system. Statera will continue to own, operate and manage the portfolio, with Ares joining as a long-term investment partner.

The Paul, Weiss team is led by corporate partners Paul Foote, Gemma Cullen and Tom Levine, and includes tax partner Timothy Lowe and antitrust partner Ross Ferguson.