Pioneering Energy Storage: GridStor’s Remarkable Achievement
GridStor, a prominent developer and operator of utility-scale battery energy storage systems, proudly announces the successful closure of its first tax credit sale with J.P. Morgan in support of the Goleta Energy Storage project. This standalone battery energy storage initiative stands as the largest lithium-ion battery facility in Santa Barbara County and commenced operations in December 2023.
Goleta Energy Storage Project: A Technological Marvel
The Goleta project features 44 emission-free lithium-ion batteries, constituting Santa Barbara County’s most extensive energy storage facility. With a capacity of 60 MW / 160 MWh, these batteries can power over 30,000 households during peak hours, significantly contributing to California’s ambitious target of decarbonizing its power sector by 2045.
Strategic Financing and Industry Recognition
Apart from the tax credit transfer with J.P. Morgan, GridStor secured long-term debt financing from NORD/LB and Mitsubishi HC Capital America. The company’s CEO, Chris Taylor, expresses confidence in the team’s execution capabilities and emphasizes the recognition received from leading financial institutions, marking a significant milestone in tax credit transfer sales associated with battery energy storage projects in North America.
Future of Sustainable Development: Partnerships with NORD/LB and Mitsubishi HC Capital America
NORD/LB and Mitsubishi HC Capital America, crucial contributors to the Goleta project, express their commitment to sustainable development. NORD/LB, with a focus on financing storage assets, and Mitsubishi HC Capital America, with a dedicated Sustainable Development Group, align with GridStor’s mission to build a prosperous and sustainable future.
As GridStor continues to spearhead the transition to a carbon-free economy, the Goleta project stands as a testament to innovation and commitment in advancing clean energy solutions.
Source：businesswire.com
