Foss & Company finalized a $58 million tax equity partnership flip deal with GridStor for a utility-scale battery energy storage system in Hidalgo County, Texas. The battery storage facility, expected to come online in October 2026, will utilize Section 48 Investment Tax Credits.
Section 48 Investment Tax Credits are generated by the project, with a 6% base credit expandable to 30% when projects meet prevailing-wage and apprenticeship standards.
Tax equity financing$58 million1234Who pays or receives it: Foss & Company
Debt financing$120 million4Who pays or receives it: NORD/LB and Siemens Financial Services
Who's involved
Foss & Companytax equity investor
GridStorbattery storage developer
Bryen AlperinPartner and Managing Director at Foss & Company
Spencer MashSVP of Finance and Head of Capital Markets at GridStor
The facts
This is the second collaboration between Foss & Company and GridStor.23Stated by 2 sources
The battery storage facility is expected to come online in October 2026.234Stated by 3 sources
The transaction uses a partnership flip structure to fund the utility-scale battery system.24Stated by 2 sources
Once operational, the facility is expected to supply power to 95,000 average Texas households during peak demand.4
GridStor closed a $120 million debt package in March 2026 from NORD/LB and Siemens Financial Services.4
Foss & Company has allocated over $11 billion in tax equity since 1983.234Stated by 3 sources
Who said what
These are statements and claims made by the people involved. They are reported, not verified.
Bryen Alperin, Foss & Company Deal highlights firm's confidence in utility-scale battery storage; grid operators increasingly depend on storage.24
Bryen Alperin, Foss & Company Foss & Company anticipates expanding its pipeline with GridStor in coming years.2
Spencer Mash, GridStor Transaction reflects maturation of battery storage sector and growing confidence among financing partners.34
How they headlined it
The same event, as each outlet put it. Marked words appear in only one outlet's headline.
Foss & Company Deploys $58 Million in Tax Equity for Texas Grid-Scale Battery Project
These outlets were found through Google News headlines. Google decides which outlets appear there, and they lean mostly one way, so this sheet can only be as balanced as the reporting it was built from. Leanings are AllSides Media Bias Ratings.
Houston-based companies Riverway Group and Offshore Data Center announced plans to develop an offshore compute platform powered by natural gas for oil and gas producers. The platform will use seawater cooling to reduce energy costs and be 50 percent lighter than traditional designs.
Riverway Group, Houston-based company partnering on offshore data center project; Offshore Data Center, Houston-based company developing offshore compute platform; Art J. Schroeder, Jr., CEO of Offshore Data Center
Construction is underway on three large data center projects near El Paso: one by Meta Platforms in El Paso, one by Oracle in nearby New Mexico, and a third planned on Fort Bliss Army post in east El Paso. El Paso city officials adopted a climate plan to reduce greenhouse gas emissions by 2050, but the data centers could conflict with climate goals.
El Paso city officials, adopted climate plan; Meta Platforms, building data center in El Paso; Oracle, building data center in New Mexico and 1 more
The Federal Aviation Administration issued a temporary flight restriction barring unauthorized drones along the US-Mexico border up to 400 feet above ground, extending one nautical mile north of the border. The action addresses concerns about illegal drug shipments and cartel drone activity.
Federal Aviation Administration, Issued temporary flight restriction; Defense Secretary Pete Hegseth, Stated military will shoot down cartel drones; Homeland Security Secretary Markwayne Mullin, Said restrictions will counter cartel drone threats and 1 more
Gina Hinojosa, the Democratic nominee for Texas governor, was interviewed about her campaign. She is running to secure schools and put money in voters' pockets, and is challenging Republican incumbent Greg Abbott.
Texas A&M University-Victoria held an investiture ceremony Wednesday to celebrate President Christian Hardigree's first year of leadership and the university's first year in The Texas A&M University System. State and federal officials, university system leaders, and higher education representatives attended the event at the Leo J. Welder Center for the Performing Arts.
Christian Hardigree, President of Texas A&M University-Victoria; AJ Louderback, Texas State Representative; Lois Kolkhorst, Texas State Senator and 4 more
Two Texas county judge races are scheduled for the Nov. 3 election. In Bexar County, Republican Patrick Von Dohlen is challenging Democrat Ron Nirenberg. In Brazoria County, Republican Rob Giesecke, independent Lucinda Henry and Democrat Eugene Howard are running to replace retiring County Judge Matt Sebesta.
Patrick Von Dohlen, Republican candidate for Bexar County judge; Ron Nirenberg, Democrat candidate for Bexar County judge; Rob Giesecke, Republican candidate for Brazoria County judge and 3 more
County clerks and election administrators across Texas are implementing security procedures before early voting begins October 19. Travis County plans 201 voting locations on Election Day. Multiple counties conducted security training for poll workers.
Travis County Clerk Dyana Limon-Mercado, Travis County Clerk; Bexar County Elections Administrator Michele Carew, Bexar County Elections Administrator; Dallas County Elections Administrator Paul Adams, Dallas County Elections Administrator and 2 more
A body was found in Lady Bird Lake near Austin early Friday morning. Police were called for a welfare check after witnesses reported seeing a body floating in the water. The person was pronounced dead at the scene. The death is not being investigated as a homicide.
Austin Police Department, Investigating death; Austin Fire Department, Assisted with body recovery; Austin-Travis County EMS, Responded and pronounced person dead and 1 more