SMT Energy LLC has finalized a significant deal, selling approximately 400 megawatts (MWs) of battery energy storage projects to UBS Asset Management. This sale marks a strategic move by SMT, a key player in the development, ownership, and operation of battery energy storage assets. The projects, situated in Texas and integrated into the ERCOT power grid, are slated to commence commercial operations between 2024 and 2025.
The transaction underscores the escalating role of battery storage in bolstering stability and reliability within the rapidly expanding ERCOT system, all while driving down costs for consumers. The deal was facilitated with advisory support from Stoel Rives.
