UBS Asset Management today announced the acquisition of five standalone, development-stage, energy-storage projects in Texas from Black Mountain Energy Storage (BMES). This marks a milestone after the establishment of the Energy Storage Infrastructure team in 2021, adding significant volume to the development pipeline.
The projects will provide flexibility, responsiveness, and dispatchability to the ERCOT grid once operational in 2024. These capabilities make energy storage a critical component of grid reliability and a key technology for the energy transition, helping ERCOT and the Texas consumers it serves benefit from innovation and more economic sources of energy.
“This portfolio is comprised of strategically selected, diversified projects in locations which are well-positioned for the current state of the market, as well as the dynamic growth Texas will experience in the coming years,” said Ken-Ichi Hino, portfolio manager, energy storage infrastructure, UBS A
