SMT Energy Secures $268 Million Equity Partnership with Climate Adaptive Infrastructure
SMT Energy has entered into an equity partnership with Climate Adaptive Infrastructure (CAI) for up to $268 million at the parent company level. This follows CAI's prior investment of $32 million in SMT assets, bringing total funding from CAI to $300 million. The capital will be used alongside tax equity and project-level debt to develop, construct, and operate battery storage projects across the United States. The partnership aims to accelerate SMT’s growth as a developer, owner, and operator of battery energy storage systems (BESS), including distributed-generation and utility-scale solutions. XIP served as financial advisor for the transaction, while Stoel Rives advised SMT Energy legally and Orrick represented CAI on legal matters. The deal underscores growing investor interest in renewable infrastructure and grid resilience technologies, particularly within the battery energy storage sector.
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