GridStor, a developer and operator of utility-scale battery energy storage projects, has announced the closing of a $120 million financing package provided by lending partners NORD/LB and Siemens Financial Services.
The funding will support the Gunnar Reliability Project, a 150 MW/300 MWh battery energy storage project located in Hidalgo County, Texas. According to the company, this marked the second project in Texas.
Construction of the project is underway and is expected to be placed in service in late 2026. Once operational, the project will provide the Lower Rio Grande Valley region of the ERCOT system.
“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.”
In December 2025, the company signed a tolling agreement with a Fortune 500 company for the project.
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 in California. The transaction is Siemens Financial Services’ first with GridStor.
In September 2025, the company announced the acquisition of the 100 MW/400 MWh White Tank battery storage project in Arizona from Strata Clean Energy, a vertically integrated solar and storage project developer.
Large-scale project funding increased by 73% in 2025 compared with the funding raised in 2024, according to Mercom’s recently released Annual and Q4 2025 Energy Storage Funding and M&A report. Deal activity also rose sharply, with a 71% increase YoY.
In January 2026, Swift Current Energy sold the 150 MW/600 MWh Prospect Power battery storage project. The project is located in Rockingham County, Virginia, and was acquired by Elevate Renewables, a renewable energy development company.
