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GridStor closes US$220 million financing for 400MWh Arizona BESS

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GridStor closes US$220 million financing for 400MWh Arizona BESS

Announced 21 September, GridStor closed the US$220 million tax equity bridge, construction, and term debt financing agreement with financial partners ING Capital LLC, KeyBank N.A., and Zions Capital Markets, to complete development of the 400MWh White Tank BESS project. Image: GridStor

GridStor, a US-based developer and operator of grid-scale battery energy storage systems (BESS), has closed a US$220 million financing agreement for the 100MW/400MWh White Tank project in Arizona, US.

Announced 21 September, GridStor closed the US$220 million tax equity bridge, construction, and term debt financing agreement with financial partners ING Capital LLC, KeyBank N.A., and Zions Capital Markets, to complete development of the 400MWh White Tank BESS project.

In September 2025, GridStor acquired White Tank from Strata Clean Energy , which was originally awarded the project through utility Arizona Public Service’s (APS) 2023 all-source request for proposals (RFP) .

White Tank will be operated via a 20-year tolling agreement with APS. It is expected to be placed in service in the first half of 2027.



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