SUSI Partners acquires U.S. battery storage portfolio

  • SUSI Partners secures 100MW portfolio of battery storage projects in South Texas in partnership with developer SMT Energy through its flagship Energy Transition Fund (SETF)
  • Acquired assets will facilitate further renewables integration and support strained power grids in making electricity available when it is needed

Zug/Zurich, 16 August 2022 – SUSI Partners, through SETF, has secured a 100MW portfolio of front-of-the-meter battery storage systems located in South Texas in partnership with SMT Energy. The portfolio comprises ten ready-to-build projects with a capacity of 10MW each. The assets are expected to start commercial operation in the first half of 2023 and will alleviate pressure on power grids in the region by balancing mismatches in electricity supply and demand.

SMT Energy, an experienced developer in the clean energy sector, will continue to oversee the construction and operational phase. Beyond the acquisition of this initial portfolio, SUSI Partners and SMT Energy are also establishing a continuing partnership for the buildout of energy transition infrastructure across the United States.

Texas’ electricity grid has been under high scrutiny with both winter storms and extremely high summer temperatures presenting challenges that are only expected to increase in frequency as climate change progresses. While renewable energy generation has proven invaluable in the face of recent spikes in power demand, its integration has far outpaced the buildout of energy storage capacity, which is crucial to counterbalance intermittencies in power supply. The need for storage is further accentuated by pending retirements of thermal generation plants, which are expected to keep price volatility at a high level throughout the 2020s.

The transaction marks SUSI’s second in the US battery storage market after investing in a behind-the-meter portfolio of Californian assets through its dedicated Energy Storage Fund in 2019, and the first battery storage deal executed through its flagship energy transition fund SETF. With this latest transaction, SETF’s portfolio now covers investments from renewable energy production over energy efficiency to energy storage and integrated customer energy solutions thus demonstrating SUSI’s holistic energy transition expertise.