100 MW / 400 MWh White Tank project will help Arizona Public Service meet rising power demand and maintain grid reliability

GridStor, a developer and operator of utility-scale battery energy storage systems, announced today that it has acquired the 100 MW / 400 MWh White Tank battery storage project in Arizona from Strata Clean Energy.

The project will be operated via a 20-year tolling agreement with Arizona Public Service (APS), the state's largest electric utility serving approximately 1.4 million homes and businesses. The project is sited in Maricopa County and is expected to be placed in service in the first half of 2027. Strata will continue to serve in a consultative role for the project until commencement of commercial operations.

"Through this acquisition, GridStor is proud to extend our commitment to supporting Arizona utilities to meet the fast-growing power needs of their residents and businesses," said Chris Taylor, CEO of GridStor. "Battery storage remains a highly scalable, cost-effective and near-term solution to powering rapidly growing energy capacity needs across the Southwest. We look forward to serving as a trusted partner to APS to meet the needs of Arizona's residents and businesses."

GridStor's acquisition and plan to construct additional standalone battery storage in Arizona come as the state experiences rapid demand growth, with APS and other utilities in the state setting new all-time records for peak power demand this past August. Under its tolling agreement, the White Tank battery storage project will allow APS to charge and discharge electricity as needed, helping to ensure customers have access to power when they need it most and sustain the region's expanding population and new industrial facilities.

"Strata is proud to play a foundational role in advancing Arizona's clean energy infrastructure," said Markus Wilhelm, Chief Executive Officer of Strata Clean Energy. "The White Tank project reflects our commitment to delivering grid-scale solutions that support utility partners like APS in meeting rising demand with reliability and resilience."

The successful close of the project marks GridStor's fourth acquisition within the last twelve months and its second in Arizona. Backed by Goldman Sachs Asset Management, GridStor manages a project pipeline of over 5 GW of battery storage projects in later-stage development or under construction across the western and central U.S. The company expects to continue acquisitions of advanced-stage projects that provide cost-effective, near-term solutions to utilities, data centers, and other large industrial customers in regions with rapidly growing energy demand.

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 us at www.gridstor.com and on LinkedIn.

About Strata Clean Energy®

Strata Clean Energy® ( "Strata"), through its affiliated business units, is a vertically integrated solar and storage development, engineering, procurement, construction (EPC), and operations & maintenance (O&M) organization. Strata has extensive experience with more than 300 projects in total, including 3 GW+ constructed by Strata's EPC, over 7 GW of solar and 21 GWh of storage in development, and 3 GW under management across the United States. Strata is also an independent power producer (IPP) with 1 GW of owned assets. Strata is focused on delivering best-in-class projects by implementing industry-leading quality assurance standards throughout its operations, reducing risk, increasing efficiency, and maximizing cost-competitiveness for customers. Learn more about Strata Clean Energy® by visiting www.stratacleanenergy.com. Strata Clean Energy® is a mark owned by Strata Clean Energy Holdings, LLC, licensed for use by its affiliates

About Goldman Sachs Asset Management

Goldman Sachs (NYSE:GS) is one of the leading investors in alternatives globally, with over $500 billion in assets and more than 30 years of experience. The business invests in the full spectrum of alternatives including private equity, growth equity, private credit, real estate, infrastructure, sustainability, and hedge funds. Clients access these solutions through direct strategies, customized partnerships, and open-architecture programs.

The business is driven by a focus on partnership and shared success with its clients, seeking to deliver long-term investment performance drawing on its global network and deep expertise across industries and markets.

The alternative investments platform is part of Goldman Sachs Asset Management, which delivers investment and advisory services across public and private markets for the world's leading institutions, financial advisors and individuals. Goldman Sachs has approximately $3.3 trillion in assets under supervision globally as of June 30, 2025.

Established in 2006, Infrastructure at Goldman Sachs Alternatives has consistently navigated the evolving infrastructure asset class, having invested approximately $13 billion in infrastructure assets across market cycles since its inception. The business partners with experienced operators and management teams across multiple sectors, including digital infrastructure, energy transition, transportation and logistics and essential services.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250918178424/en/

Media Contact

Alaina Gjertsen

Alaina.Gjertsen@gridstor.com