Foss & Company Closes $58 Million Tax Equity Investment in Utility-Scale Battery Storage Project with GridStor
Foss & Company Closes $58 Million Tax Equity Investment in Utility-Scale Battery Storage Project with GridStor
PR Newswire
DENVER, Oct. 7, 2026
Partnership flip transaction supports second BESS collaboration between Foss & Company and GridStor
DENVER, Oct. 7, 2026 /PRNewswire/ -- Foss & Company, a leading tax equity syndicator, today announced the closing of a $58 million partnership flip transaction to finance a utility-scale battery energy storage system (BESS) in Hidalgo County, TX, developed by GridStor. The transaction generates Section 48 Investment Tax Credits (ITCs) and marks the second deal between Foss & Company and GridStor.
The battery storage asset is on schedule to be placed in service in October 2026.
"This transaction reflects the strength of our partnership with GridStor and our continued conviction in utility-scale battery storage as an asset class," said Bryen Alperin, Partner and Managing Director at Foss & Company. "As grid operators increasingly rely on storage to balance supply and demand, we're glad to help bring projects like this one in Hidalgo County online, and we look forward to growing our pipeline with GridStor in the years ahead."
"We are pleased to have concluded this financing with Foss and appreciate their support of the BESS asset class," said Spencer Mash, SVP of Finance, Head of Capital Markets, GridStor. "This transaction reflects the continued maturation of the sector and the growing confidence of financing partners in the role that battery energy storage can play in supporting grid reliability and flexibility where it is needed most."
The transaction adds another utility-scale battery storage asset to Foss & Company's growing renewable energy tax equity portfolio.
About Foss & Company
Founded in 1983, Foss & Company is a national tax equity investor and fund sponsor that, since its inception, has deployed over $11 billion in tax equity on behalf of insurance, banking, and other large corporate clients into historic rehabilitation projects, renewable energy, and advanced energy production facilities. Foss & Company is a full-service advisor with proven expertise in helping its partners navigate the world of tax equity investments. For more information about Foss & Company, please visit www.FossandCo.com.
About GridStor
GridStor strengthens America's power system reliability by building and operating battery projects, storing electricity to deliver when and where it's most needed. GridStor develops, acquires, builds and operates utility-scale, standalone battery storage projects primarily across North America. Visit GridStor at www.gridstor.com and on LinkedIn.
This press release contains forward-looking statements based on current expectations and projections, subject to risks including changes in tax law, construction/completion risks, energy production variability, and market conditions that could cause actual results to differ materially. Foss & Company undertakes no obligation to update these statements.
SOURCE Foss & Company
The articles, information, and content displayed on this webpage may include materials prepared and provided by third parties. Such third-party content is offered for informational purposes only and is not endorsed, reviewed, or verified by Morningstar.
Morningstar makes no representations or warranties regarding the accuracy, completeness, timeliness, or reliability of any third-party content displayed on this site. The views and opinions expressed in third-party content are those of the respective authors and do not necessarily reflect the views of Morningstar, its affiliates, or employees.
Morningstar is not responsible for any errors, omissions, or delays in this content, nor for any actions taken in reliance thereon. Users are advised to exercise their own judgment and seek independent financial advice before making any decisions based on such content. The third-party providers of this content are not affiliated with Morningstar, and their inclusion on this site does not imply any form of partnership, agency, or endorsement.
Popular
3 Stocks to Sell and 3 Stocks to Buy for November
3 of the Best Dividend Stocks to Own
The 10 Best Companies to Invest in Now
These Overvalued Stocks Have Plenty of Room to Fall
United States