Orrick Advises GridStor on Innovative Energy Storage Partnership with Axpo U.S.

Orrick advised GridStor, a leading developer and operator of utility-scale battery storage systems, on the execution of an Energy Storage Agreement with Axpo U.S. (Axpo) for the Hidden Lakes Reliability Project, a 220 MW, 440 MWh battery energy storage system located in Galveston County, Texas. The project, which began operations in the fourth quarter of 2025, represents a significant advancement in financeable solutions for the energy storage industry and delivers long-term pricing predictability for Houston-area residents and businesses.

THE COMPANY

GridStor is a Goldman Sachs Asset Management-backed developer and operator of utility-scale, standalone battery energy storage projects across North America. With 530 MW/1,300 MWh of assets in operation and construction and a pipeline exceeding 3 GW in advanced development, GridStor provides cost-effective, near-term reliability solutions to utilities, data centers and large industrial customers in high-demand regions.

Axpo is a leading international energy company headquartered in Switzerland, specializing in energy supply and risk management solutions for consumers, producers and retailers across major markets, including the U.S.

THE IMPACT

This bespoke 100 MW structure enables Axpo to deliver stable and predictable electricity prices to retail customers in Houston while setting a new standard for risk management product development and financeable agreements in the battery storage sector.

The transaction not only enhances grid reliability but also demonstrates the growing maturity and bankability of standalone battery storage projects. It sets a strong precedent for financeable structures, supporting innovation and long-term energy affordability across Texas.

THE TEAM

The Orrick team was led by Lana Le Hir with support by Alexander Fields, Monica Molina and Li Shen.

LEARN MORE

• GridStor Press Release
• Read More Orrick Client Results