08.04.2026 – GridStor, a developer and operator of utility-scale battery energy storage systems, and Axpo, a leading international energy company headquartered in Switzerland, announced today the execution of an Energy Storage Agreement with the Hidden Lakes Reliability Project, a 220 MW, 440 MWh battery energy storage system located in Galveston County, Texas, which began operations in 4Q2025.
In brief:
“We are proud to work alongside Axpo to support long-term pricing predictability for Houston residents and businesses,” said Chris Taylor, CEO of GridStor. “Our collaboration with Axpo to develop a bespoke transaction structure that unlocks financing for battery storage also contributes to more stable retail electricity rates for customers.”
Lance Titus, Chief Commercial Officer of GridStor, added: “This structure marks a major advancement in risk management product development and sets a strong precedent for financeable solutions for the energy storage industry. Meeting the needs of counterparties with creativity and strong transaction execution is core to how we approach our customers and clients - we are proud to be a trusted provider to Axpo.”
The 100 MW bespoke agreement backed by GridStor’s Hidden Lakes Reliability Project enables Axpo to pass price predictability through to Houston retail customers. The Hidden Lakes project began operations in the fourth quarter of 2025.
Shimon Schaff, Origination Director at Axpo in the U.S., said: “At Axpo, our mission is to help customers achieve their desired energy risk profiles through tailored solutions. Our platform is built to give our customers and industry partners direct access to our trading capabilities and resources. We look forward to deepening our cooperation with GridStor in ERCOT and beyond.”
Backed by Goldman Sachs Asset Management, GridStor manages 530 MW, 1,300 MWh of battery energy storage assets in operation and construction, as well as a pipeline of over 3 GW of battery storage projects in later-stage development across the western and central U.S. The company is focused on executing and delivering projects that provide cost-effective, near-term solutions to utilities, data centers, and other large industrial customers in regions with rapidly growing energy demand.
Axpo Group is a leading international energy company headquartered in Switzerland. In the US, Axpo focuses on the supply of energy and risk management solutions to consumers, producers, and retailers of electricity and natural gas.
Corporate Communications
