GridStor closes $120M financing for 150 MW / 300 MWh Gunnar Reliability Project BESS in Texas

GridStor secured a $120 million financing package from NORD/LB and Siemens Financial Services for its 150 MW / 300 MWh Gunnar Reliability Project, a battery energy storage facility in Hidalgo County, Texas. This transaction marks a significant milestone in GridStor's portfolio growth, focused on contracted revenues, and underscores the value of its reliability contributions to the Texas power grid. The project, GridStor’s second in Texas, is scheduled to enter service in late 2026 and will provide power equivalent to serving 95,000 average Texas households during peak demand.

Counterparts (3)

Developer

GridStor

company

Portland, Oregon-based developer, owner, and operator of utility-scale battery storage systems. Launched in 2022 and backed by Goldman Sachs Asset Management, the company focuses on developing and operating projects across the U.S., including a 1.5 GW / 3.0 GWh portfolio in California and Texas.

Lender

NORD/LB

company · 1 deals

NORD/LB is a German Landesbank that provides a range of financial services to corporate customers, savings banks, and private investors. They are involved in structured finance, syndications, investment solutions, and financial markets.

Siemens Financial Services

company

Siemens Financial Services (SFS) is the financing arm of Siemens, providing a range of financial solutions, including project and equipment finance, to support investments in infrastructure, energy, industry, and healthcare. SFS focuses on enabling technological advancements and sustainable development through its financing activities.