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Goldman Sachs–backed GridStor announces acquisition of Arizona battery energy storage project
Energy - JANUARY 28, 2025

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Goldman Sachs–backed GridStor announces acquisition of Arizona battery energy storage project

by Released

GridStor, backed by Goldman Sachs Asset Management, has acquired a 100-megawatt/400-megawatt-hour battery storage project in Arizona from Capacity Power Group (CPG).

GridStor’s acquisition and plan to construct battery storage in Arizona comes during a critical time for the region. Rising power demand from residential and large industrial customers is rapidly increasing the volume of new capacity that Arizona’s electric utilities project they will need.

“Battery storage is a scalable and near-term solution to powering historic load growth in Arizona,” said Chris Taylor, CEO of GridStor. “Every day, batteries across the state are consistently providing energy to stabilize the power system and meet hours of greatest demand. This acquisition demonstrates GridStor’s commitment to supporting Arizona to meet the growing power needs of its residents and businesses.”

"CPG is committed to implementing energy storage projects across the United States," said

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