SMT Energy LLC, a developer, owner and operator of battery energy storage assets, announces its sale of ~400 MWs of battery energy storage projects to UBS Asset Management. The battery systems, located in Texas and connected to the ERCOT power grid, are on track to come online in 2024 and 2025. Battery storage is playing an increasingly large role in providing stability and reliability to the rapidly growing ERCOT system while reducing costs for ratepayers.
SMT was advised on the transaction by Stoel Rives.
ABOUT SMT ENERGY
SMT Energy is a leading developer, owner, and operator of battery energy storage facilities throughout the United States. Founded in 2019, SMT Energy has successfully developed over USD 1.5bn worth of battery energy storage assets, and currently operates one of the largest portfolios of battery energy storage facilities in the United States.
ABOUT UBS ASSET MANAGEMENT
UBS Asset Management is a large-scale asset manager with a presence in 23 markets. It offers investment capabilities and investment styles across all major traditional and alternative asset classes to institutions, wholesale intermediaries and wealth management clients around the world. It is a leading fund house in Europe, the largest mutual fund manager in Switzerland, the second largest fund of hedge funds manager and one of the largest real estate investment managers in the world.