Foss & Company Partners with GridStor on $86 Million Tax Credit Transfer for Hidden Lakes Battery Storage Project
DENVER, CO – November 11, 2025 — Foss & Company, a leading tax equity syndicator, and GridStor, an owner and operator of large-scale battery energy storage facilities, today announced the successful $86 million direct transfer of investment tax credits (ITCs) generated by GridStor’s Hidden Lakes Reliability Project.
The Hidden Lakes Reliability Project is a 220 MW / 440 MWh (2-hour) battery energy storage system (BESS) located in Galveston County, Texas, that will provide power system services in the Electric Reliability Council of Texas (ERCOT) market. The project is designed to charge during lower-priced periods to provide cost-effective electricity daily during the hours of greatest demand and meet the needs of the growing Houston metropolitan area.
This transaction marks Foss & Company’s first collaboration with GridStor, and the experience has laid a strong foundation for future partnership.
“We are very pleased to complete the tax transfer deal with GridStor,” said Bryen Alperin, partner and managing director, Foss & Company. “This transaction highlights our confidence in standalone BESS assets and our commitment to supporting innovative energy infrastructure solutions. We look forward to continued partnership with Gridstor.”
“We are proud to work with Foss& Company to complete the financing of the Hidden Lakes Reliability Project,” said Chris Taylor, CEO, GridStor. “Trusted partnerships like this are critical for advancing large-scale power supply and infrastructure at a pace to meet surging demand for new power capacity. We thank Foss & Company for placing their trust in us.”
With Hidden Lakes now in service, Foss & Company reaffirms its commitment to advancing clean energy infrastructure and supporting high-impact merchant battery storage initiatives through strategic tax equity investments.
ABOUT FOSS & COMPANY
Founded in 1983, Foss & Company is a national tax equity investor and fund sponsor that has deployed over $9 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 us at www.gridstor.com and on LinkedIn.
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