GridStor Acquires Portfolio of In-Development BESS Projects from Upstream Energy
Last Updated: Oct 2022
GridStor acquired a portfolio of in-development battery energy storage system (BESS) projects in the Los Angeles Basin from Upstream Energy.
The portfolio totals more than 500 MW/2,000 MWh, with targeted online dates between 2024 and 2026.
Projects are sited on previously disturbed urban parcels near existing substations and transmission, enabling faster grid interconnection and deployment. Once operational, the systems are intended to provide capacity and flexibility to regional utilities and CAISO, supporting reliability as renewable penetration rises.
The deal positions GridStor - backed by Goldman Sachs Asset Management - as a significant BESS player in California’s largest load center. California policymakers project very large storage needs by 2045, and the LA Basin projects are framed as a response to those reliability and decarbonization goals.
The portfolio is expected to contribute to local investment and union construction jobs while strengthening grid resilience during peak demand periods.
GridStor acquired a portfolio of in-development battery energy storage system (BESS) projects in the Los Angeles Basin from Upstream Energy.
The portfolio totals more than 500 MW/2,000 MWh, with targeted online dates between 2024 and 2026.
Projects are sited on previously disturbed urban parcels near existing substations and transmission, enabling faster grid interconnection and deployment. Once operational, the systems are intended to provide capacity and flexibility to regional utilities and CAISO, supporting reliability as renewable penetration rises.
The deal positions GridStor - backed by Goldman Sachs Asset Management - as a significant BESS player in California’s largest load center. California policymakers project very large storage needs by 2045, and the LA Basin projects are framed as a response to those reliability and decarbonization goals.
The portfolio is expected to contribute to local investment and union construction jobs while strengthening grid resilience during peak demand periods.
GridStor acquired a portfolio of in-development battery energy storage system (BESS) projects in the Los Angeles Basin from Upstream Energy.
The portfolio totals more than 500 MW/2,000 MWh, with targeted online dates between 2024 and 2026.
Projects are sited on previously disturbed urban parcels near existing substations and transmission, enabling faster grid interconnection and deployment. Once operational, the systems are intended to provide capacity and flexibility to regional utilities and CAISO, supporting reliability as renewable penetration rises.
The deal positions GridStor - backed by Goldman Sachs Asset Management - as a significant BESS player in California’s largest load center. California policymakers project very large storage needs by 2045, and the LA Basin projects are framed as a response to those reliability and decarbonization goals.
The portfolio is expected to contribute to local investment and union construction jobs while strengthening grid resilience during peak demand periods.
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