GridStor, Axpo announce battery storage swap agreement

GridStor and Axpo announced the execution of an Energy Storage Agreement with the Hidden Lakes Reliability Project, a 220 MW, 440 MWh battery energy storage system located in Galveston County, Texas, which began operations in 4Q2025. “We are proud to work alongside Axpo to support long-term pricing predictability for Houston residents and businesses,” said Chris Taylor, CEO of GridStor. “Our collaboration with Axpo to develop a bespoke transaction structure that unlocks financing for battery storage also contributes to more stable retail electricity rates for customers.” Backed by Goldman Sachs (GS) Asset Management, GridStor manages 530 MW, 1,300 MWh of battery energy storage assets in operation and construction, as well as a pipeline of over 3 GW of battery storage projects in later-stage development across the western and central U.S.