GridStor Hidden Lakes Reliability Project — 220 MW / 440 MWh BESS, Galveston County TX — Axpo Revenue Swap (100 MW)
GridStor and Axpo U.S. executed an energy storage revenue swap agreement covering 100 MW of the 220 MW / 440 MWh Hidden Lakes Reliability Project in Galveston County, Texas (ERCOT). Project reached commercial operations in Q4 2025. Under the bilateral swap structure, Axpo takes merchant price exposure and GridStor locks in guaranteed revenue. Axpo will use the fixed-price swap to offer price predictability to Houston-area retail customers. GridStor is backed by Goldman Sachs Asset Management via Horizon Energy Storage.
Deal Value
220MW
Capacity
440MWh
Storage
BESS
Technology
TX
Location
Deal Details
- Deal Type
- Revenue Swap
- Seller / Sponsor
- GridStor (Goldman Sachs Asset Management)
- Buyer / Financier
- Axpo U.S.
- Offtaker
- Axpo U.S.
- Stage
- Operating
- ISO/RTO
- ERCOT
- Source
- BusinessWire / GridStor
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