GridStor closes US$220 million financing for 400MWh Arizona BESS

energy-storage.news Sep 23, 2026

GridStor closes US$220 million financing for 400MWh Arizona BESS

Curated by Shubham · TechCapsules · Sep 23, 2026

AI-summarised brief · reviewed before publication

GridStor secured a US$220 million financing package—comprising tax equity bridge, construction, and term debt—from ING Capital, KeyBank, and Zions Capital Markets to complete its 400 MWh White Tank battery energy‑storage system in Arizona. The 100 MW/400 MWh facility, acquired from Strata Clean Energy in September 2025, will operate under a 20‑year tolling agreement with Arizona Public Service (APS) and is slated for first‑half 2027 service. The project aims to bolster APS’s grid reliability amid record‑high power demand and a growing regional population.

💡 Why It Matters

· By delivering a large‑scale storage asset, GridStor helps APS meet escalating demand peaks and supports the state’s transition to renewable energy, ensuring continuous power for residents and new industrial developments.

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Offshore Wind Battle Heats Up, Now With Geothermal Energy Twist

President Donald Trump’s administration has redirected funds from its offshore wind lease buyout program to support the domestic geothermal industry. The Energy Department announced a new Geothermal Center of Excellence and added $99 million for testing and exploration, while former Liberty Energy CEO Chris Wright was nominated to lead the department. Geothermal, which has historically contributed about 1 % of U.S. utility‑scale power, is now receiving unprecedented attention and investment, despite being in early developmental stages. The move signals a strategic shift toward diversifying clean‑energy portfolios.

💡 By funneling wind‑lease proceeds into geothermal, the administration aims to accelerate a technology that could become a major low‑carbon power source, reshaping the U.S. energy landscape.

cleantechnica.com · Sep 23

Interesting Messaging War Regarding CATL in China

China’s Ministry of Industry and Information Technology (MIIT) has dismissed recent media claims that Chinese automakers are actively “de‑CATLizing” their supply chains. MIIT’s China Daily article labels the narrative a “media farce,” arguing that diversifying battery suppliers is a normal market response, not a strategic attack on CATL. The piece also warns that price competition could erode battery quality, stressing that consumers can distinguish between brands and that cost cuts should not compromise safety or performance.

💡 The government’s rebuttal signals a protective stance toward CATL, underscoring the company’s strategic importance in China’s EV ecosystem. It also highlights the tension between cost pressures and quality standards in a rapidly evolving battery market.

energy-storage.news · Sep 23

How transferability and US-China tensions are transforming US BESS and renewables financing

Nathan Picarsic, co‑founder of Horizon Advisory, told Energy‑Storage.news at the 2026 US Battery Asset Management and Solar & Storage Finance Summits that recent U.S. legislation allowing tax‑credit transferability is reshaping renewable‑energy financing. The change creates a “secondary tranche” that lets non‑traditional investors—such as private equity and pension funds—participate alongside classic tax‑equity banks, broadening capital sources and accelerating project pipelines. At the same time, escalating U.S.–China tensions are forcing developers to weigh domestic‑content tax incentives against the speed and cost advantages of imported battery components. With solar investment tax credits expiring in 2027 and storage credits lasting until 2033, firms are scrambling to lock in financing and equipment now, even as policy uncertainty persists.

💡 Transferable credits unlock a new class of risk‑tolerant capital, fast‑tracking projects that previously stalled, while geopolitical pressure pushes the industry toward a domestically sourced supply chain, reshaping cost structures and investment timelines.

cleantechnica.com · Sep 23

Leaked EU Hydrogen Draft Moves From Quotas To Credits

The European Commission has leaked a draft of its post‑2023 hydrogen policy that replaces mandatory national quotas for renewable fuels of non‑biological origin (RFNBOs) with an EU‑wide indicative target and a credit‑based mechanism. The preferred option removes binding state‑level consumption goals while keeping overall financing and enabling measures, allowing demand to be met through tradable credits rather than fixed quotas. The impact assessment also revises projected electrolytic hydrogen use for 2040 to 18 million tonnes, midway between low (8 Mt) and high (20 Mt) scenarios, and notes that lower electrolysis demand would free up renewable electricity for direct use. Member states will support for infrastructure, and the proposal aligns with decarbonisation goals. The draft remains provisional, with final rules expected by late 2026.

💡 By shifting to credit‑based compliance, the EU gives producers flexibility while preventing a one‑size‑fits‑all mandate, a move that could reshape investment across the continent’s renewable‑hydrogen supply chain.

cleantechnica.com · Sep 23

Norway’s Bastø Electric Shows What Five Years of Ferry Electrification Looks Like

Bastø Electric entered service on Norway’s busy Moss‑Horten ferry route in March 2021 as the world’s largest all‑electric ferry, a 139.2‑metre vessel with a 4.3 MWh battery capable of carrying 600 passengers and 200 cars. Over five years it has operated alongside converted ferries Bastø IV and Bastø VI, forming a mixed fleet that now handles roughly 75 percent of the route’s 36,000 daily departures. The route moves about four million passengers and two million vehicles annually across a 10‑kilometre crossing that takes half an hour, allowing the ferries to charge at shore stations with up to 9 MW power. The electrification program cut diesel use by an estimated six million litres per year, avoiding roughly 16 000 metric tons of CO₂.

💡 Demonstrating that new builds, retrofits and shore‑side charging can coexist, Bastø’s model offers a practical blueprint for rapidly decarbonising high‑frequency ferry services worldwide.

techcrunch.com · Sep 23

Kairos Power gets up to $100M from Samsung group to build nuclear…

Kairos Power announced that Samsung C&T will partner to construct a 50‑megawatt demonstration nuclear reactor for Google, targeting completion by 2030. Samsung will contribute up to $100 million in equity and in‑kind engineering services, with $70 million as a cash equity stake. The collaboration leverages Samsung’s experience on a dozen reactors worldwide. Kairos, already building two reactors in Oak Ridge, Tennessee—Hermes 1 (a low‑power test unit) and Hermes 2 (its first commercial‑scale plant)—will deliver the first 50 MW of power under its 2024 Google contract. Hermes 2 will be a fluoride‑salt‑cooled high‑temperature reactor using TRISO fuel, a design never before commercialized. The Nuclear Regulatory Commission approved the project in late 2024, and Kairos aims to begin operations on Hermes 2 in 2030. Samsung’s involvement is expected to accelerate schedule and reduce risk.

💡 Google’s commitment to a dedicated 50 MW nuclear source underscores data‑center operators’ shift toward carbon‑free baseload power, accelerating commercial deployment of advanced reactor designs.