A sale process has launched for an up to 100% stake in Goshe Energy Storage, a private equity-owned battery storage developer, two sources familiar with the process said.

PEI Global Partners is serving as sell side financial, the sources said, adding that teasers for the opportunity went out in the last week. The process is codenamed “Project Prism.”

Focused in ERCOT, Goshe is an independent power producer (IPP) with a roughly 2.6 GW pipeline of battery storage projects, including four projects totaling around 630 MW/1,280 MWh that will be under construction by 2Q25, the sources said.

Messages to executives at Goshe were not returned as of press time. PEI declined to comment.

Goshe is led by CEO Bailey McCallum, who joined the firm in May 2023, according to his LinkedIn profile. He previously served as head of capital markets at Copia Power. The firm was launched in 2022 and is wholly owned by a renewable power-focused private equity firm, according to the teaser. The teaser does not identify the private equity owner.

Goshe is marketed at an EBITDA of USD 35m in 2025 and a USD 100m run-rate EBITDA in 2026, the teaser states.

Goshe has two projects under construction – a 100 MW project in Bexar County and a 180 MW site in Cameron County – set to enter operations in April and August of 2025, respectively. Two more projects – a 150 MW project in Victoria County and a 200 MW project in Brazoria – are expected to reach the Notice to Proceed stage next year and come online in 2026.

Among the projects developed by Goshe is the Arroyo Energy Storage Portfolio in Cameron County, Texas. The portfolio comprises seven battery energy storage systems (BESS) totaling 180 MW (ac) along with a substation and 200-foot transmission line. The North American Development Bank approved a USD 85m loan to support the project earlier this year, according to public documents.

Goshe has also received financing commitments from Pathward for three 25 MW battery projects in Bexar Country, the Sioux Falls, South Dakota-based financial services firm said in a 2023 report.