July 7, 2026 — SMT Energy and Axpo have signed a 120 MW, seven-year battery storage swap agreement linked to SMT Energy’s Houston IV BESS, a newly operational 160 MW/320 MWh battery energy storage system in the Electric Reliability Council of Texas (ERCOT) market.
The agreement is designed to provide SMT Energy with predictable, long-term contracted revenue for the Houston IV project while supporting the company’s ability to advance additional battery storage assets in Texas. The transaction also reinforces Axpo’s role in the ERCOT market and its ability to serve customers seeking flexible energy solutions.
Houston IV demonstrates SMT Energy’s capability to originate, finance, construct, operate and commercialize utility-scale battery energy storage system assets in ERCOT, the company said.
Miguel Garcia, Head of Commercial Strategy at SMT Energy, said Houston IV represents the type of large-scale, grid-critical battery storage asset SMT Energy was built to deliver.
Axpo Group is an international energy company headquartered in Switzerland. In the U.S., Axpo focuses on the supply of energy and risk management solutions to consumers, producers and retailers of electricity and natural gas.
Axpo is Switzerland’s largest energy producer and an international leader in energy trading and the marketing of solar and wind power. The company has about 7,500 employees and serves customers in more than 30 countries across Europe, North America and Asia.
SMT Energy is a U.S.-based power infrastructure company focused on the development, ownership, operation and optimization of utility-scale battery energy storage systems and related grid infrastructure. The company develops and commercializes flexible energy assets that support reliability, load growth and the transition to a more dynamic electric grid, with a focus on ERCOT and other high-value U.S. power markets.
