SMT Energy LLC (SMT) has made history with its groundbreaking sale of approximately 400 MWs of battery energy storage projects to UBS Asset Management. This unprecedented transaction signifies a major leap forward for the battery energy storage industry.
In a bold move, SMT Energy has demonstrated its commitment to advancing clean energy solutions by developing, owning, and operating battery energy storage facilities across the United States. Since its inception in 2019, SMT Energy has established itself as a leader in the sector, successfully developing over $1.5 billion worth of battery energy storage assets. With the largest portfolio of battery energy storage facilities in the country, SMT Energy is at the forefront of revolutionizing energy storage.
The battery systems that caught the attention of UBS Asset Management are located in Texas and are connected to the ERCOT power grid. Set to be operational by 2024 and 2025, these cutting-edge facilities will play a pivotal role in enhancing the stability and reliability of the rapidly growing ERCOT system. Furthermore, the integration of battery storage technology will lead to significant cost reductions for ratepayers, making energy more accessible and affordable for all.
This game-changing sale was facilitated by Stoel Rives, a prominent advisory firm known for its expertise in energy transactions. Their guidance and strategic advice were instrumental in ensuring the smooth execution of this landmark deal.
UBS Asset Management, a major player in the global investment landscape, recognizes the immense potential of battery energy storage and its ability to shape the future of sustainable energy. Operating in 23 markets, UBS Asset Management offers a wide range of investment capabilities across traditional and alternative asset classes, providing institutions, intermediaries, and wealth management clients with unparalleled investment opportunities.
The partnership between SMT Energy and UBS Asset Management not only signifies a significant milestone in the battery energy storage industry but also exemplifies the continuous efforts to accelerate the global transition towards a cleaner and more sustainable energy future. This revolutionary sale further cements the position of battery energy storage as a key player in the global energy landscape.
The source of the article is from the blog zaman.co.at