2 minute read | September.25.2026
SMT Energy announced an equity partnership with Climate Adaptive Infrastructure (CAI) for up to $268 million at the parent-company level. CAI's equity could enable SMT to develop and build energy infrastructure with an aggregate value significantly greater than the equity provided.
Orrick advised CAI.
CAI is an infrastructure investment firm specializing in low-carbon real assets in the energy, water and urban infrastructure sectors.
SMT is a U.S. energy infrastructure company specializing in the development, ownership and operation of battery energy storage systems (BESS).
CAI's equity investment, along with tax equity and project-level debt, will fund SMT’s U.S. BESS projects including development, construction and operations. The investment reflects a strategy of supporting scalable infrastructure platforms positioned to meet the growing demand for resilient, reliable and lower-carbon energy infrastructure.
The Orrick team is led by Kristin Seeger and includes David Gold, Julianne Spears and Robert Clary.