SMT Energy Secures US$135 Million for 320 MWH Battery in Houston
Summary
SMT is grateful to the teams at Macquarie, KeyBanc and FlexGen for their expertise and deep industry knowledge to get this complex deal across the line," noted J.J. Switzer, Co-Founder and Managing Partner of SMT Energy.The project will be connected to the ERCOT power grid, allowing the facility to participate in the wholesale market supplying energy and ancillary services. Battery energy storage is playing an increasingly pivotal role in providing grid stability and reliability to the rapidly growing ERCOT system, which has seen significant growth in load and intermittent power generation in recent years. "We are pleased to work with SMT on this transaction, which demonstrates our ability to bring multiple capabilities together to provide clients with innovative solutions in this growing market" said Tom Colebatch, Managing Director in Macquaries Commodities and Global Markets business. "In addition to providing the equipment, the project will utilize FlexGens energy management system software, known as HybridOS, which provides site integration, site control and advanced analytics insights to maximize the availability and operating ranges of battery energy storage assets. "FlexGen is proud to partner with SMT Energy on the deployment of the SMT Houston IV project, which will deliver critical services to the dynamic ERCOT power grid," said Jason Abiecunas, Executive Vice President of Business Development with FlexGen.With this closing, SMT Energy has eighteen utility-scale battery energy storage assets, encompassing approximately 500 MWH, in operation or construction.