March 12, 2024

AMERICAN PUBLIC POWER ASSOCIATION: Company Announces Close of Tax Credit Sale for Calif. Energy Storage Project

GridStor, a developer and operator of utility-scale battery energy storage systems, recently announced that it closed its first tax credit sale with J.P. Morgan in support of its Goleta Energy Storage project in California.

The standalone battery energy storage project is the largest lithium-ion battery facility in Santa Barbara County, Calif., and began operations in December 2023.

In addition to the tax credit transfer, GridStor’s Goleta Energy Storage project is financed with long term debt provided by NORD/LB and Mitsubishi HC Capital America.

Read the full article here.