SMT Energy has secured funding for a 160 MW/320 MWH battery storage facility in Houston, Texas, called SMT Houston IV.
Macquarie Group and KeyBanc Capital Markets were joint lead arrangers in the funding.
KeyBanc also acted as SMT’s financial advisor while FlexGen Power Systems is slated to provide the equipment for the project.
The facility will be connected to the ERCOT power grid, which will enable it to supply energy and ancillary services in Texas’ wholesale market. The SMT Houston IV project will support the grid by providing access to stored energy; the site is expected to store and dispatch enough electricity to power the annual consumption of 8,800 Texas homes.
The project will utilize FlexGen’s energy management system software, HybridOS™, for site integration, site control, and advanced analytics to maximize the availability and operating ranges of battery storage assets.
“This was no small feat. 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,” said J.J. Switzer, Co-Founder and Managing Partner of SMT Energy, in a statement.
With the addition of this newest facility, SMT Energy has 18 utility-scale battery energy storage assets totaling approximately 500 MWH, either in operation or under construction. The company also has a 2 GWH pipeline of battery storage projects in ERCOT and Southwest Power Pool designated for commercial operation by 2030.
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