Habitat Energy signs UBS optimisation deal for 750MW of US storage

May 7, 2024

Battery storage optimiser Habitat Energy has signed an agreement with UBS Asset Management’s real estate & private markets business to optimise 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.

“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,” a statement said.

The deal means Habitat Energy has contracts to optimise a total of 1GW of battery storage in ERCOT.

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 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.”

Ken-Ichi Hino, senior portfolio manager, energy storage at UBS Asset Management added: “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.