The Energy Storage Report 2024

Now available to download, covering deployments, technology, policy and finance in the energy storage market

Habitat Energy to optimise 730MW ERCOT battery storage portfolio for UBS

LinkedIn
Twitter
Reddit
Facebook
Email

Optimiser Habitat Energy has secured a deal with UBS Asset Management to manage the energy market activity of four BESS projects totalling 730MW in ERCOT, Texas.

The firm will optimise the charge and discharge of four battery energy storage system (BESS) projects for UBS Asset Management’s Real Estate & Private Markets, all of which will come online between August and December 2024.

This article requires Premium SubscriptionBasic (FREE) Subscription

Enjoy 12 months of exclusive analysis

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Annual digital subscription to the PV Tech Power journal
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

It makes Habitat Energy one of the largest BESS optimisers in the ERCOT market, with 1GW contracted, bringing its total global portfolio to 2GW.

ERCOT is a primarily merchant market where BESS projects derive the bulk of revenues from a large ancillary services market with some wholesale energy trading.

As Energy-Storage.news has written extensively, prices in the ancillary service market are set to come down and that ‘market saturation’ is already happening in some hours of the day.

However, the penetration of third-party optimisation in the ERCOT BESS market is still relatively low compared to the UK, the other major merchant market for energy storage.

This is partially because an ancillary service-only strategy has been relatively lucrative to date and some market participants already have in-house trading expertise, including from the gas power plant space.

Optimisers say the need for third-party optimisation will increase as BESS projects move towards more energy trading.

Michael Kirschner, managing director of Habitat Energy USA (pictured above), commented: “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.”

UBS Asset Management is launching the four BESS projects under a joint venture with investor Captona, announced earlier this week and covered by Energy-Storage.news yesterday.

Habitat Energy is part of Quinbrook Infrastructure Partners and is active in the UK, Australia and US. Co-founder and director Ben Irons talked to Energy-Storage.news about the challenges facing optimisation firms like it in an interview last year (Premium access).

Energy-Storage.news’ publisher Solar Media will host the 1st Energy Storage Summit Australia, on 21-22 May 2024 in Sydney, NSW. Featuring a packed programme of panels, presentations and fireside chats from industry leaders focusing on accelerating the market for energy storage across the country. For more information, go to the website.

22 May 2024
London, UK
At the time of writing, Europe had had its most successful year in terms of Power Purchase Agreements (PPAs) with a record 7.8GW of renewable energy contracts signed. As we gather in May 2024 for the third edition of the Renewable Energy Revenues Summit, the energy landscape continues to evolve rapidly, influenced by the beating drum of climate change, volatility around power prices and the need to decarbonise power procurement as well as generation.
22 October 2024
New York, USA
Returning for its 11th edition, Solar and Storage Finance USA Summit remains the annual event where decision-makers at the forefront of solar and storage projects across the United States and capital converge. Featuring the most active solar and storage transactors, join us for a packed two-days of deal-making, learning and networking.
12 November 2024
San Diego, USA
As we see more storage projects become operational, the big question is “how to maximize your assets?” This event will prepare the industry for the road ahead, looking at the core fundamentals of asset management, understanding operational challenges, along with the latest optimization and software development. You can expect to meet and network with all the key industry players from major US asset owners, operators, RTOs and ISOs, optimizers, software and analytics providers, technical consultancies, O&M technology providers and more.
18 March 2025
Austin, Texas
The Energy Storage Summit USA is the only place where you are guaranteed to meet all the most important investors, developers, IPPs, RTOs and ISOs, policymakers, utilities, energy buyers, service providers, consultancies and technology providers in one room, to ensure that your deals get done as efficiently as possible. Book your ticket today to join us in 2025!

Read Next

May 21, 2024
A roundup of large-scale solar and storage news from across the US, with RWE buying three projects from Galehead Development, Origis Energy securing US$300 million for its pipeline and Appalachian Power launching an RFP for 1.1GW of renewables and storage.
May 20, 2024
Startup Photon Vault Inc proposal in response to a request for information (RFI) from Microsoft, Google and Nucor, while unsuccessful, offered what it claimed could be a first for California.
May 16, 2024
Battery storage failure incidents have dramatically decreased in frequency in the last few years, but the industry still needs to be more transparent and share data when incidents occur.
May 15, 2024
Renewable energy developer and operator Apex Clean Energy has completed a US$150 million financing with First Citizens Bank for two ERCOT, Texas battery energy storage system (BESS) projects.
May 14, 2024
Utility DTE Energy has launched a request for proposals (RFP), seeking approximately 120MW of standalone energy storage projects in its Michigan, US, service area.

Most Popular

Email Newsletter