GridStor closes $220M debt financing agreement led by ING Capital, KeyBank, and Zions Capital Markets to fund White Tank battery storage facility in Arizona.
GridStor, a Portland, Oregon-based developer and operator of utility-scale battery energy storage systems, closed a $220 million tax equity bridge, construction, and term debt financing. The financing was led by ING Capital LLC, KeyBank N.A., and Zions Capital Markets. GridStor intends to use the funds to complete development of its 100 MW / 400 MWh White Tank battery energy storage facility in Arizona, which will operate under a 20-year tolling agreement with Arizona Public Service. The White Tank facility is expected to be placed in service in the first half of 2027.
Company Information
Company
GridStor
Location
7 SE Stark St
Portland, Oregon, United States
About
GridStor strengthens America’s power system reliability by building and operating battery projects, storing electricity to deliver when and where it’s most needed. GridStor develops, acquires, builds and operates utility-scale, standalone battery storage projects primarily across North America.
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