SER Capital Partners buys 30 MW of battery storage projects in Texas
Author: Portland General Electric. License: Creative Commons, Attribution-NoDerivs 2.0 Generic.
Private equity company SER Capital Partners, LLC last week announced the acquisition of companies behind 30 MW of energy storage projects in Texas.
The three project companies were sold by local energy developer HGP Storage in September. Lithium-ion battery company LG Chem Ltd is to supply the equipment for the three projects under an agreement with SER.
The projects, which will be located close to wind farms, are expected to be operational by the summer of 2021.
SER said this is its second investment in three months and the firm has committed about USD 70 million (EUR 59m) in equity capital.