The objective is to offer clients other sustainable investment solutions in the field of alternative energies.
UBS Asset Management announced on Thursday the acquisition of five stand-alone energy storage projects in the US state of Texas from Black Mountain Energy Storage.
“This is a significant milestone following the creation of the Energy Storage Infrastructure team in 2021. The investment adds significant volume to the development pipeline,” a statement read. The objective is to offer clients other sustainable investment solutions in the field of alternative energies.
According to its own information, UBS was advised by Troutman Pepper, Clean Energy Counsel and Euclid Power. The companies gave no indication of the volume of the transaction.