August 16 (Renewables Now) - Swiss fund manager SUSI Partners, through flagship energy transition fund SETF, is acquiring a 100-MW portfolio of ready-to-build battery energy storage projects in South Texas from developer SMT Energy.
SUSI Partners said in a statement today that this transaction, its second in the US battery storage market, will facilitate the integration of more renewables and support strained power grids. The fund manager is taking possession of ten 10-MW front-of-the-meter battery systems that should become operational in the first half of next year.
In addition to the acquisition itself, SUSI Partners will also team up with SMT Energy to establish a continuing relationship involving the build-out of energy transition infrastructure across the US, the announcement says.
SUSI Partners made its first deal in the US battery market in 2019 when it invested in a behind-the-meter portfolio of Californian assets.