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Oregon energy storage company plans 450-megawatt facility in Galveston County

The GridStor project will boost the Electric Reliability Council of Texas grid. It’s GridStor’s first acquisition in ERCOT territory. Photo via gridstor.com

An Oregon startup has purchased a 450-megawatt battery energy storage project in Galveston County.

GridStor, a Portland, Oregon-based developer and operator of battery energy storage systems, bought the project from Moab, Utah-based Balanced Rock Power. The Utah company develops utility-scale solar and energy storage projects.

Financial terms of the deal weren’t disclosed.

GridStor, founded in 2022, is backed by Goldman Sachs Asset Management. The Portland Business Journal reported last November that Goldman Sachs had raised a $410 million fund to fuel its energy storage strategy.

Construction on the Evelyn Battery Energy Storage project is scheduled to get underway this summer, with the system projected to go online in the spring of 2025.

“Battery storage is a scalable and near-term solution to powering historic load growth in Texas,” Chris Taylor, CEO of GridStor, says in a news release. “Every day, batteries are consistently providing energy to stabilize the power system and meet hours of greatest demand in the state.”

The GridStor project will boost the Electric Reliability Council of Texas (ERCOT) grid. It’s GridStor’s first acquisition in ERCOT territory.

The project will be built near the Hidden Lakes substation, which is owned by Texas-New Mexico Power, which now just serves Texas. This proximity will enable batteries to quickly begin grid-connected operations.

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A View From HETI

Houston-based Rice Alliance Clean Energy Accelerator, as well as Activate Global Greentown Labs, which each have Houston locations, will provide clean tech workshops at the DOE-backed event. Photo via Getty Images

A clean technology program backed by the Wells Fargo Foundation and co-administered by the United States Department of Energy's National Renewable Energy Laboratory has named three Houston organizations as recipients to an annual awards program.

The Wells Fargo Innovation Incubator, a $50 million program, announced its eighth cycle of IN2 Channel Partner Strategic Awards. The program is distributing $767,000 across 15 organizations within the Channel Partner network to create impactful workshops at the upcoming Camp Cleantech event in August at CSU Spur in Denver, Colorado.

Houston-based Rice Alliance Clean Energy Accelerator, as well as Activate Global Greentown Labs, which each have Houston locations, have been named among the awards recipients. The organizations will present workshops aimed at providing critical tools and insights for clean tech startups.

"We are celebrating this year's Strategic Award winners and looking forward to Camp Cleantech," says Robyn Luhning, chief sustainability officer at Wells Fargo, in a news release. "As the real economy demands more lower-carbon solutions, Wells Fargo continues to support the scaling of new solutions for a successful shift to a low-carbon economy."

Registration for the event opens May 1. A full itinerary is available online.

The selected participants represent IN²'s broader goals of diversity, equity, and inclusion, per the release.

"The significance of this year's awards goes beyond the recognition of innovation; it embodies a concerted effort to elevate collaboration and engagement across the board," adds Sarah Derdowski, IN² program director at NREL. "Through Camp Cleantech, we're setting a new standard in how we gather, inspire, and propel our community forward."

Around $435,000 of the funding will go toward select recipients who will receive additional follow-on funding to enhance and expand their workshop content and insights towards entrepreneurs in their local networks.

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