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Foss closes $58 million tax-equity deal for GridStor battery project in Texas

Foss & Company announced an October 7 financing close for a Hidalgo County battery asset. October service entry remains a company forecast; the release does not specify MW/MWh capacity.

By Greener Numbers Editorial Team · Published October 7, 2026 · Updated 10/7/2026

Foss & Company announced on October 7, 2026 that it closed a $58 million partnership-flip tax-equity transaction for a utility-scale battery energy storage project in Hidalgo County, Texas. GridStor developed the asset. Foss describes this as the second deal between the companies.

The transaction generates Section 48 Investment Tax Credits, according to the company release. The $58 million figure is the announced financing transaction, not a disclosed total project cost or an amount of electricity the battery can store.

Foss says the battery asset is on schedule to enter service in October 2026. That is a forward-looking schedule, not confirmation of commercial operation. The release does not identify a commissioning day or provide the system's power and energy ratings.

Storage can shift electricity between charging and discharging periods. But this financing announcement supplies no quantified household-bill savings or project-specific reliability calculation. Those outcomes should not be inferred from the closing amount.

Foss and GridStor describe the deal as evidence of financing support for standalone battery storage. Their release also lists construction, tax-law, energy-production and market risks that can affect expected results.

The next check is the asset's actual entry into service. Until then, the verified development is the completed tax-equity financing and the company's stated October schedule.

Official source: prnewswire.com ↗