GridStor, a prominent owner and operator of large-scale battery energy storage systems, has partnered with Foss & Company, a leading tax equity syndicator.
This collaboration resulted in the successful direct transfer of $86 million in investment tax credits (ITCs).
The tax credits were generated by GridStor's Hidden Lakes Reliability Project, a 220 MW / 440 MWh battery energy storage facility in Galveston County, Texas.
This facility is designed to support the Electric Reliability Council of Texas (ERCOT) market by charging during low-demand periods and discharging during peak hours.
The project aims to provide cost-effective and reliable electricity to the rapidly growing Houston metropolitan area.
This transaction represents the first partnership between GridStor and Foss & Company, establishing a foundation for future collaborations.
Both companies expressed confidence in the deal, highlighting its importance in advancing clean energy infrastructure. The partnership underscores a commitment to supporting innovative energy solutions and high-impact merchant battery storage projects through strategic tax equity investments.
GridStor, a prominent owner and operator of large-scale battery energy storage systems, has partnered with Foss & Company, a leading tax equity syndicator.
This collaboration resulted in the successful direct transfer of $86 million in investment tax credits (ITCs).
The tax credits were generated by GridStor's Hidden Lakes Reliability Project, a 220 MW / 440 MWh battery energy storage facility in Galveston County, Texas.
This facility is designed to support the Electric Reliability Council of Texas (ERCOT) market by charging during low-demand periods and discharging during peak hours.
The project aims to provide cost-effective and reliable electricity to the rapidly growing Houston metropolitan area.
This transaction represents the first partnership between GridStor and Foss & Company, establishing a foundation for future collaborations.
Both companies expressed confidence in the deal, highlighting its importance in advancing clean energy infrastructure. The partnership underscores a commitment to supporting innovative energy solutions and high-impact merchant battery storage projects through strategic tax equity investments.
GridStor, a prominent owner and operator of large-scale battery energy storage systems, has partnered with Foss & Company, a leading tax equity syndicator.
This collaboration resulted in the successful direct transfer of $86 million in investment tax credits (ITCs).
The tax credits were generated by GridStor's Hidden Lakes Reliability Project, a 220 MW / 440 MWh battery energy storage facility in Galveston County, Texas.
This facility is designed to support the Electric Reliability Council of Texas (ERCOT) market by charging during low-demand periods and discharging during peak hours.
The project aims to provide cost-effective and reliable electricity to the rapidly growing Houston metropolitan area.
This transaction represents the first partnership between GridStor and Foss & Company, establishing a foundation for future collaborations.
Both companies expressed confidence in the deal, highlighting its importance in advancing clean energy infrastructure. The partnership underscores a commitment to supporting innovative energy solutions and high-impact merchant battery storage projects through strategic tax equity investments.
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