Battery Storage Breakthrough: SUSI Partners and SMT Energy Secure Major Investment for Texas Portfolio


Average reading time for this story is 1 minutes

In a significant move towards bolstering clean energy infrastructure, SUSI Partners (“SUSI”), in collaboration with the SUSI Energy Transition Fund (“SETF”), has joined forces with U.S. clean energy trailblazer SMT Energy to secure a crucial tax equity investment from specialized tax equity investor Greenprint Capital. This landmark partnership is aimed at powering a jointly-owned 100 MW battery storage portfolio situated in South Texas. The portfolio’s imminent commercial launch reflects a resounding vote of confidence in its capacity to operate seamlessly within the dynamic ERCOT electricity market.

SMT Energy, the visionary behind the 100 MW battery storage portfolio, has adeptly steered the assets through their construction phase and will continue to shepherd their commercial operations as a minority stakeholder. This remarkable collection comprises ten utility-scale standalone battery energy storage projects, strategically designed to rectify voltage imbalances within strained power grids, thus harmonizing the ebb and flow of electricity supply and demand.

See also  Australia Leads Global Battery Energy Storage Market with 40 GW Pipeline, Wood Mackenzie Report Reveals

The advent of battery energy storage systems as eligible investments for the Investment Tax Credit (“ITC”) in the U.S. was ushered in by the passage of the 2022 Inflation Reduction Act. This legislative milestone acknowledges the burgeoning significance of battery storage technology in balancing electricity grids and facilitating the transition towards sustainable renewable energy sources. Of particular note, a majority of the projects within the SETF Texas battery storage portfolio qualify for an enhanced ITC rate, attributing their pivotal role in the economic transformation of Energy Communities. These communities, historically tethered to the fossil fuel industry, bear a disproportionate burden of its environmental consequences.

For SETF, an esteemed proponent of clean energy generation, energy efficiency, electric vehicle charging infrastructure, and holistic customer energy solutions, investments in battery storage underpin a central pillar of its diversified energy transition portfolio. Alongside a thriving Italian clean energy platform that leads local battery storage project development with an impressive 650 MW currently advancing towards fruition, the Fund has also forged robust partnerships to invest in battery storage assets in the United States. Collaborations with SMT Energy and Vermont-based Encore Renewable Energy further amplify SETF’s influential footprint in shaping a sustainable energy landscape.

See also  Innovative Solutions: 5 Unconventional Ideas for Renewable Energy Storage

Leave a Reply