Gridstor, a US-based developer and operator of grid-scale battery storage systems, has kicked off construction of its first project in the Texas ERCOT market.

Gore Street Energy Storage Fund will provide a Goldman Sachs subsidiary with power from its Big Rock BESS in California via a 12-year, fixed price Resource Adequacy (RA) contract.

The CFO of Goldman Sachs-backed US battery storage developer-operator GridStor discussed its recent investment tax credit (ITC) transfer deal for a California BESS project, highlighting some downsides as well as positives from the new mechanism.

Investments totalling US$425 million combined have been secured by US storage and solar developer-operators Lightshift Energy and MN8 Energy.

Gridstor has started commercial operations at its 60MW/160MWh Goleta battery storage facility in the US state of California.

US energy storage developer Gridstor has announced the start of construction of its first project, a 60MW/160MWh BESS in California.

New developer GridStor has acquired a portfolio of in-development battery storage projects in LA, California, from Upstream Energy, totalling 500MW/2,000MWh.

Goldman Sachs and Cleanhill Partners have swooped to acquire a majority stake in EPC Power, a US manufacturer of power conversion systems.

Compressed air long-duration energy storage solution provider Hydrostor has received an investment commitment of US$25 million from Canada Pension Plan Investment Board.

Goldman Sachs Renewable Power has cut the ribbon on a large-scale solar-plus-storage project in Kings County, California.