GridStor secures $220 million for Arizona battery storage project

GridStor has secured $220 million in tax equity bridge, construction, and term debt financing for its 100 MW/400 MWh White Tank battery storage project in Maricopa County, Arizona. Financial partners for the transaction include ING Capital, KeyBank, and Zions Capital Markets. The facility will operate under a 20-year tolling agreement with Arizona Public Service.

In other renewable energy developments, Windrose Holding completed a €118 million green loan transaction to refinance and optimize a 157 MW portfolio of wind and solar assets in Italy. Additionally, Energy Vault acquired over 2.3 GW of battery energy storage development projects in the United States from Goshe Energy Storage, with commercial operations expected to begin in early 2028.

In Ireland, independent power producer Elgin acquired the 200 MW Blackhall Solar Farm in County Meath from GP Joule. The project has received consent and grid connection arrangements, though the financial terms of the acquisition were not disclosed.