The high penetration of renewable energy leads to reduced system inertia, which has caused considerable concerns over the stability of frequency and oscillations in power systems. This paper investigates the use of a hybrid system consisting of a Battery Energy Storage System (BESS) and a Synchronous Condenser (SC) to enhance the frequency response of power systems with low inertia. This paper firstly proposes a sizing strategy based on techno-economic analysis using the Genetic Algorithm (GA) optimization technique, which can minimize the cost of the BESS-SC hybrid system while maintaining the Rate of Change of Frequency (RoCoF) within an acceptable limit. Then this paper proposes a locating strategy for identifying the most suitable location for the BESS-SC hybrid system, which utilizes the Short Circuit Ratio (SCR) to identify the location and is further verified by the Prony method employing eigenvalues and damping ratio analysis. The proposed sizing and locating strategies for the BESS-SC hybrid system are demonstrated on the modified Kundur 4-Machine 2-Area system using MATLAB/Simulink. The effectiveness and feasibility of the proposed sizing and locating approaches are verified in three case studies, showing notable enhancements in the RoCoF and frequency nadir using the proposed sizing and locating strategies for the BESS-SC hybrid system.