SUSI Partners, a Swiss infrastructure fund manager, has announced the acquisition of a 100 MW battery storage project portfolio in South Texas, US, in collaboration with SMT Energy. The deal was done through SUSI Partners’ flagship Energy Transition Fund (SETF).
The portfolio comprises ready-to-build 10 MW battery storage projects and is anticipated to start operating in the first half of 2023. The projects’ construction and operation will still be under the direction of SMT Energy. The battery storage project portfolio is anticipated to support strained power grids once operational by making electricity accessible when needed, assisting in the increasing integration of renewable energy sources.
After investing in a behind-the-metre portfolio of storage assets in California in 2019, this is SUSI’s second investment in the US battery storage market. It will be SETF’s first battery storage deal and boost its portfolio, which already includes a wide range of investments with an emphasis on renewable energy. Energy storage, energy efficiency, and integrated customer energy solutions are a few of them. Additionally, SUSI Partners and SMT Energy intend to continue working together to build infrastructure for the US’s energy transformation.
REGlobal’s Views: Battery energy storage is gaining massive traction in the US owing to significant influx of renewables in the recent years and grid stability issues. Thus, various domestic and foreign investors are planning significant investments in storage assets in the US.
