Habitat Energy, a leading global optimizer of battery storage and renewable energy assets using advanced AI powered algorithmic forecasting and trading, has signed an agreement with UBS Asset Management’s Real Estate & Private Markets business to optimize 730MW of battery storage assets in the ERCOT market in Texas.
The four standalone projects are scheduled to commence commercial operations from August to December of 2024, providing valuable flexibility to the ERCOT grid. Energy storage is a key enabler of the energy transition, increasing grid resilience, enabling renewable energy integration and providing local communities with greater access to clean, affordable energy.
The projects 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.
Also Read: EV Charging Company EnviroSpark Secures $50 Million Investment from Basalt Infrastructure Partners
UBS Asset Management chose Habitat Energy to optimize this four-project ERCOT battery storage portfolio following a comprehensive review of optimization service providers in the market. Habitat’s EVOLVE optimization service is a fully integrated end-to-end solution combining AI-powered algorithmic forecasting and trading across all wholesale and ancillary markets with Level 4 QSE services, human trader oversight and risk management, and asset intelligence that manages degradation and outage risk.
The deal makes Habitat Energy one of the largest optimizers of battery storage in ERCOT with 1 gigawatt contracted, and brings the company’s global portfolio of assets under contract to more than 2 gigawatts.
Michael Kirschner, Managing Director of Habitat Energy USA said: “We’re delighted to announce this partnership with UBS Asset Management and look forward to demonstrating our market leading capabilities to optimize revenues for our partner. The choice of optimizer is important, with top-performing batteries in ERCOT earning more than double the revenue of their peers. Habitat brings a new and innovative optimization approach to the ERCOT market and we see this agreement with UBS as recognition of that.”
Ken-Ichi Hino, Senior Portfolio Manager, Energy Storage at UBS Asset Management 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.”
SOURCE: Businesswire