By January 2025, GridStor had fundamentally transformed its acquisition strategy. After successfully bringing its first project online (Goleta in December 2023) and securing a groundbreaking $55 million debt facility from NORD/LB in 2023, GridStor acquired a substantial 200 MW / 800 MWh project in Eastern Oklahoma from Black Mountain Energy Storage.
This marked the company's first foray into the Southwest Power Pool (SPP) market and represented a calculated pivot toward the booming data center sector. Coming after GridStor's Hidden Lakes project began construction in Texas - financed with $74 million from First Citizens Bank - the Oklahoma acquisition demonstrated the company's newfound ability to deploy capital rapidly across multiple markets.
The two-phase, 800 MWh project targeting SPP's urgent 2030 capacity needs showed GridStor had moved beyond California's development challenges to pursue merchant opportunities in less saturated markets where Goldman Sachs' deep balance sheet could finance growth at scale.
By January 2025, GridStor had fundamentally transformed its acquisition strategy. After successfully bringing its first project online (Goleta in December 2023) and securing a groundbreaking $55 million debt facility from NORD/LB in 2023, GridStor acquired a substantial 200 MW / 800 MWh project in Eastern Oklahoma from Black Mountain Energy Storage.
This marked the company's first foray into the Southwest Power Pool (SPP) market and represented a calculated pivot toward the booming data center sector. Coming after GridStor's Hidden Lakes project began construction in Texas - financed with $74 million from First Citizens Bank - the Oklahoma acquisition demonstrated the company's newfound ability to deploy capital rapidly across multiple markets.
The two-phase, 800 MWh project targeting SPP's urgent 2030 capacity needs showed GridStor had moved beyond California's development challenges to pursue merchant opportunities in less saturated markets where Goldman Sachs' deep balance sheet could finance growth at scale.
By January 2025, GridStor had fundamentally transformed its acquisition strategy. After successfully bringing its first project online (Goleta in December 2023) and securing a groundbreaking $55 million debt facility from NORD/LB in 2023, GridStor acquired a substantial 200 MW / 800 MWh project in Eastern Oklahoma from Black Mountain Energy Storage.
This marked the company's first foray into the Southwest Power Pool (SPP) market and represented a calculated pivot toward the booming data center sector. Coming after GridStor's Hidden Lakes project began construction in Texas - financed with $74 million from First Citizens Bank - the Oklahoma acquisition demonstrated the company's newfound ability to deploy capital rapidly across multiple markets.
The two-phase, 800 MWh project targeting SPP's urgent 2030 capacity needs showed GridStor had moved beyond California's development challenges to pursue merchant opportunities in less saturated markets where Goldman Sachs' deep balance sheet could finance growth at scale.
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