Monday, September 26 2022 Sign In   |    Register

News Quick Search



Front Page
Power News
Today's News
Yesterday's News
Week of Sep 26
Week of Sep 19
Week of Sep 12
Week of Sep 05
Week of Aug 29
By Topic
By News Partner
Gas News
News Customization


Pro Plus(+)

Add on products to your professional subscription.
  • Energy Archive News

    Home > News > Power News > News Article

    Share by Email E-mail Printer Friendly Print

    UBS snaps up 700 MW of US energy storage projects

    July 29, 2022 - SeeNews Renewables


      July 29 (Renewables Now) - The asset management arm of Swiss bank UBS Group AG (SWX:UBSG) has acquired a 700-MW portfolio of energy storage projects in Texas from Black Mountain Energy Storage as part of the strategic expansion of the lender’s infrastructure business.

      The portfolio consists of five standalone, development-stage projects which will provide flexibility, responsiveness, and dispatchability to the power grid in Texas once they come into operation in 2024, UBS said on Thursday.

      “This is a major milestone in the development of our energy storage investment strategy,” said UBS Asset Management's head of Infrastructure, Tommaso Albanese. “We look forward to continuing to work with strategic partners to build out the portfolio in markets across the US," he added.

      The deal with UBS Asset Management comes only a few days after Black Mountain Energy Storage unveiled the sale of four standalone energy storage projects in Texas with a combined capacity of 400 MW/600 MWh. The buyer is US renewable energy plants developer and operator Cypress Creek Renewables.


    Other Articles - Utility Business / General


       Home  -  Feedback  -  Contact Us  -  Safe Sender  -  About Energy Central   
    Copyright © 1996-2022 by CyberTech, Inc. All rights reserved.
    Energy Central® and Energy Central Professional® are registered trademarks of CyberTech, Incorporated. Data and information is provided for informational purposes only, and is not intended for trading purposes. CyberTech does not warrant that the information or services of Energy Central will meet any specific requirements; nor will it be error free or uninterrupted; nor shall CyberTech be liable for any indirect, incidental or consequential damages (including lost data, information or profits) sustained or incurred in connection with the use of, operation of, or inability to use Energy Central. Other terms of use may apply. Membership information is confidential and subject to our privacy agreement.