What's Happening?
GridStor, an energy developer backed by Goldman Sachs Asset Management, has acquired the White Tank battery storage project in Arizona. The project, with a capacity of 100-MW/400-MWh, will serve Arizona Public Service (APS) customers. This acquisition is part of GridStor's expansion in Arizona, driven by the state's record peak power demand and rapid growth.
Why It's Important?
The acquisition underscores the increasing importance of battery storage solutions in meeting rising energy demands. As Arizona experiences growth in population and industrial facilities, projects like White Tank are crucial for ensuring reliable power supply. GridStor's investment reflects the broader trend of expanding renewable energy infrastructure to support sustainable development.
What's Next?
The White Tank project is expected to become operational in the first half of 2027, under a 20-year tolling agreement with APS. This agreement will allow APS to manage electricity supply efficiently, supporting the region's expanding energy needs.
