Habitat Energy has signed an agreement with UBS Asset Management to optimise 730MW of battery storage assets in Texas, US.
The four standalone projects are scheduled to commence commercial operations from August to December of 2024, providing valuable flexibility to the Electric Reliability Council of Texas (ERCOT) grid.
The schemes are part of UBS Asset Management’s innovative energy storage investment strategy, which forms part of its infrastructure business expansion to provide clients with sustainable investing solutions.
UBS Asset Management chose Habitat Energy following a comprehensive review of optimisation service providers in the market.
Following the deal Habitat Energy now has 1GW contracted, which brings the company’s global portfolio of assets under contract to more than 2GW.
Habitat Energy US managing director Michael Kirschner said: “We are delighted to announce this partnership with UBS Asset Management and look forward to demonstrating our market leading capabilities to optimise revenues for our partner.
“The choice of optimiser is important, with top-performing batteries in ERCOT earning more than double the revenue of their peers.
“Habitat brings a new and innovative optimisation approach to the ERCOT market and we see this agreement with UBS as recognition of that.”
Senior portfolio manager, energy storage, at UBS Asset Management Ken-Ichi Hino said: “The partnership with Habitat Energy marks another important step in the execution of UBS Asset Management’s energy storage investment strategy.
“We look forward to working with the Habitat team to optimize the value of our assets.”
Habitat Energy is a portfolio company of Quinbrook Infrastructure Partners.