GridStor has secured a $120m (€103.04m) financing package from NORD/LB and Siemens Financial Services for the Gunnar Reliability Project, a battery energy storage facility in Texas, US.
The project features a 150MW/300 megawatt-hour (MWh) facility in Hidalgo County, intended to enhance energy reliability in the Lower Rio Grande Valley region once operational.
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The financing includes construction and tax equity bridge loans, as well as letters of credit (LC). This arrangement represents Siemens Financial Services’ inaugural collaboration with GridStor.
NORD/LB previously supported GridStor’s portfolio development, including an LC facility and financing for the Goleta Energy Storage Project.
NORD/LB project finance-origination head Sondra Martinez said: “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.”
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By GlobalDataConstruction on the Gunnar Reliability Project is currently under way, engaging more than 100 skilled tradespersons and apprentices.
The facility is expected to be operational in late 2026 and supply power equivalent to the demand of 95,000 average Texas households during peak demand periods.
GridStor CEO Chris Taylor said: “This transaction marks a significant milestone in our disciplined portfolio growth, focused on contracted revenues.
“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, GridStor executed a tolling agreement pertaining to the Gunnar Reliability Project with a Fortune 500 company.
The Gunnar Reliability Project marks GridStor’s second project in Texas after the 220MW/440MWh Hidden Lakes Reliability Project, which was completed in late 2025.
GridStor is supported by Goldman Sachs Asset Management and currently manages 530MW/1.3 gigawatt-hours of battery energy storage assets, which are either in operation or under construction.
It also has a development pipeline of more than 3GW across the western and central US regions.
