GridStor, a developer and operator of utility-scale battery energy storage systems, and Axpo, a leading international energy company headquartered in Switzerland, announced the execution of an Energy Storage Agreement with the Hidden Lakes Reliability Project.

The project is a 220 MW, 440 MWh battery energy storage system located in Galveston County, Texas, which began operations in the fourth quarter of 2025.

Project Details and Operational Status

The Hidden Lakes Reliability Project represents a significant battery storage installation in Texas, with a capacity of 220 MW and 440 MWh of energy storage capability. The facility commenced operations in the fourth quarter of 2025, making it an operational asset at the time of the agreement announcement.

The project is situated in Galveston County, Texas, positioning it within the ERCOT electricity market region. The agreement involves a 100 MW bespoke structure backed by GridStor's Hidden Lakes Reliability Project, which enables Axpo to provide price predictability to Houston retail customers.

This arrangement demonstrates an innovative approach to battery storage agreements that focuses on pricing stability for end consumers.

Company Leadership Perspectives

Chris Taylor, CEO of GridStor, emphasized the partnership's focus on supporting long-term pricing predictability for Houston residents and businesses. Taylor stated that the collaboration with Axpo involves developing a bespoke transaction structure that unlocks financing for battery storage while contributing to more stable retail electricity rates for customers.

Lance Titus, Chief Commercial Officer of GridStor, characterized the structure as a major advancement in risk management product development. Titus noted that the agreement sets a strong precedent for financeable solutions for the energy storage industry and reflects GridStor's approach to meeting counterparty needs through creativity and strong transaction execution.

Shimon Schaff, Origination Director at Axpo in the U.S., described Axpo's mission as helping customers achieve their desired energy risk profiles through tailored solutions. Schaff indicated that Axpo's platform provides customers and industry partners with direct access to the company's trading capabilities and resources, and expressed anticipation for deepening cooperation with GridStor in ERCOT and beyond.

GridStor's Portfolio and Backing

GridStor operates under the backing of Goldman Sachs Asset Management and manages a substantial portfolio of battery energy storage assets. The company currently oversees 530 MW and 1,300 MWh of battery energy storage assets in operation and construction phases.

Additionally, GridStor maintains a pipeline of over 3 GW of battery storage projects in later-stage development across the western and central United States. The company's strategic focus centers on executing and delivering projects that provide cost-effective, near-term solutions to utilities, data centers, and other large industrial customers in regions experiencing rapidly growing energy demand.

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