Simpson Thacher advised EQT Infrastructure VI (“EQT Infrastructure”) in connection with its agreement to acquire Statera Energy Limited from InfraRed Capital Partners Limited.~~Established in 2015 and headquartered in London, Statera is a prominent player in the UK's battery storage and flexible energy generation sector, with a robust development track record. In addition to being an early entrant in the battery space, it recognized the importance of other key flexible technologies, namely pumped hydro and green hydrogen production, which are expected to aid the UK's transition to a predominantly intermittent renewable energy supply. Statera has 1GW of flexible generation in operation and under construction, enough to power around 750,000 homes, and a total project pipeline of over 16GW, with plans to deliver 7.5GW of flexibility assets by 2030.~~EQT Infrastructure will support the Statera management team and platform by providing access to growth capital to accelerate the deployment of flexible generation across the UK.~~The transaction is subject to customary conditions and approvals. It is expected to close around the end of 2023.~~The Simpson Thacher team included Amy Mahon, Alex Wilson, Paul Foote, Antony Freeman, Fran Towers and Simone Chua (Corporate); Ross Ferguson, Antonio Bavasso and Sandeep Mahandru (Regulatory); Claire Williams and Kwasi Mills-Bampoe (Banking & Credit); Sarah Lindley and Sefia Jivraj (Tax); and Jonathan Lindabury and Jakarri Hamlin (Hedging).