“This transaction marks a significant milestone in our disciplined portfolio growth, focused on contracted revenues,” said Chris Taylor, CEO of GridStor. “Committed capital from two world-class lending institutions underscores the value of GridStor’s reliability contributions to the Texas power grid during a time of unprecedented expansion in the state.”
The Gunnar Reliability Project is GridStor’s second project in Texas and is on track to be placed in service in late 2026. Construction is underway, sustaining a workforce of more than 100 skilled tradespersons and apprentices. Once operational, the battery storage facility will provide the Lower Rio Grande Valley region of the ERCOT system with power equivalent to serving 95,000 average Texas households during the hours of greatest demand on the electric grid.
“We are proud to have led another successful financing for Gridstor. The closing of the Gunnar BESS project reflects our shared commitment to deploying critical energy storage infrastructure and supporting a more resilient and flexible grid,” said Sondra Martinez, Head of Project Finance-Origination at NORD/LB.
NORD/LB has previously partnered with GridStor to provide a letter of credit facility for its portfolio development and to finance its Goleta Energy Storage Project. The transaction is Siemens Financial Services’ first with GridStor.
“We are proud to provide financing in support of GridStor’s battery energy storage systems in Texas,” said Jim Fuller, Head of Project Finance, Siemens Financial Services, Inc. “The facility enhances power system reliability and supports economic growth in Texas, while providing the community with resilient, clean energy.”
Backed by Goldman Sachs Asset Management, GridStor manages 530 MW, 1,300 MWh of battery energy storage assets in operation and construction, as well as a pipeline of over 3 GW of battery storage projects in later-stage development across the western and central U.S. The company is focused on executing and delivering projects that provide cost-effective, near-term solutions to utilities, data centers, and other large industrial customers in regions with rapidly growing energy demand.
