Granite Source Power

What Granite Source Power does

Granite Source Power (GSP) is a privately held utility-scale renewable energy and battery storage project developer founded in 2022 and headquartered in Portsmouth, New Hampshire. The company develops stand-alone battery energy storage systems (BESS), solar-plus-storage, and greenfield wind and solar projects from inception through interconnection, with a stated pipeline of approximately 3 GW of greenfield renewables and a 2 GW stand-alone BESS portfolio being marketed through Marathon Capital as placement agent. GSP's customer base is bifurcated: at the input side, it enters into 25–30+ year land lease agreements with landowners and engages with local communities for permitting and tax revenue; at the output side, it sells or operates projects for utilities and grid operators. The company's monetization model is to develop projects through to commercial operation and then either sell them to offtakers or retain long-term operational ownership.

GSP's underlying technology is a proprietary GIS-based siting platform paired with an RTO- and state-level analysis framework that evaluates dozens of criteria before identifying final project locations. Combined with deep interconnection and transmission expertise, this system enables systematic site selection across multiple U.S. electricity markets. The company operates with an owner-operator mindset, meaning it intends to both develop and operate assets for multi-decade project lifetimes (15–20 years for BESS, 30+ years for solar). Revenue is realized through project sales or long-term asset ownership rather than SaaS or product licensing, with no publicly disclosed pricing or revenue figures.

GSP has raised approximately $40 million in growth capital from New Energy Capital (June 2023) and secured up to $50 million in committed capital from Great Bay Renewables (January 2026), with the latter operating as both a financial partner and strategic co-development partner. The leadership team is drawn from senior ranks at Enel Green Power North America, Tradewind Energy, Apex Clean Energy, and EnerNOC, and the broader team has developed or acquired over 12 GW of renewable capacity and facilitated $10B+ in project financing. Current headcount is 1–10 employees, and the company has no operational assets generating recurring revenue, placing it firmly in the pre-revenue development phase.

Name

Granite Source Power

Legal name

Granite Source Power LLC

Website

https://granitesourcepower.energy

Company type

Private

Founded year

2022

Operating status

Operating

Headcount range

1–10 employees

Short description

Granite Source Power is a Portsmouth, NH-based developer of utility-scale battery energy storage and renewable energy projects, serving landowners, local communities, and utility offtakers across multiple U.S. electricity markets.

Ownership category

akta.pro rank

Product category

Renewable Energy & Battery Storage Project Development

NAICS

Electric Power Generation (22111), Solar Electric Power Generation (221114)

SIC

Cogeneration Services & Small Power Producers (4991)

akta.pro primary industry

Utility-Scale BESS Project Development & Ownership (IPP/Developer) (EUAFAAAA)

akta.pro secondary industries

BESS Financing, Insurance & Contracting (Tax Equity, PPA/Tolling, Warranties) (EUAFAAAI), Project Finance & Capital Structuring (Debt/Tax Equity/Project Bonds) (EUAMAAAD)

Keywords

• Battery energy storage
• Renewable energy development
• Utility-scale solar projects
• Greenfield project development
• Energy storage siting

Headquarters

HQ city

New Hampshire

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Supply Chain, Marketing or Sales, Technology or R&D

Revenue model

1. Battery Storage Project Development: GSP develops battery energy storage projects from greenfield through to operational status, generating revenue through project sales or long-term ownership as an operator.
2. Land Lease Arrangements: GSP enters into long-term land lease agreements (25-30+ years) with landowners for solar and BESS project sites, creating predictable income streams for landowners while GSP develops and operates projects.
3. Renewable Energy Project Development: Development of greenfield renewable energy projects (wind, solar) with a pipeline of 3 GW, generating revenue through project monetization and asset sales.

Go-to-market motion2 records

Distribution channels1 record

Marketing channels4 records

Core offering

Granite Source Power is a renewable energy and battery storage project developer that develops utility-scale stand-alone BESS projects (2 GW portfolio), solar-plus-storage integrated projects, and greenfield renewable energy projects (wind, solar, storage) with a 3 GW pipeline. The company controls development through long-term land lease agreements (25-30+ years), uses GIS-based siting and RTO/state-level analysis to identify sites, and monetizes projects through sales or long-term ownership. The 2 GW BESS portfolio is marketed through Marathon Capital as placement agent.

Product overview

Granite Source Power (GSP) is a renewable energy and battery storage developer offering a portfolio of core product lines centered on utility-scale clean energy infrastructure. The primary offerings include stand-alone Battery Energy Storage System (BESS) projects marketed through Marathon Capital with a 2 GW portfolio, solar-plus-storage integrated projects across ERCOT, SPP, and PJM markets, and greenfield renewable energy development (wind, solar, storage) with a 3 GW pipeline. The company operates with an owner-operator mindset, providing development services from early siting through construction and into operations, targeting landowners, communities, and offtake customers for multi-decade project relationships.

Differentiator

Problem solved

Functional benefit

Products and services

• Stand-alone Battery Energy Storage System (BESS) Projects
• Solar-plus-Storage Projects
• Greenfield Renewable Energy Projects
• Long-Term Land Lease Arrangements for Solar or BESS Development

Quantifiable outcome

• Solar projects operate for 30+ years
• +3 more outcomes

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Two partnerships are on record, tiered core.

• Great Bay RenewablescoreStrategic or Co-development Partner · 19 November 2025Strategic partnership between GSP and Great Bay Renewables to develop battery storage and energy projects across the U.S. The partnership leverages Great Bay's financial expertise to support GSP's project development and interconnection efforts, addressing rising energy demand and grid reliability needs.
• Marathon Capital, LLCcoreChannel Partner/ Reseller/ Distributor · 12 June 2023GSP is marketing a 2 GW battery storage portfolio with Marathon Capital. Marathon Capital acts as a placement agent helping GSP find offtakers and buyers for its battery storage project pipeline.

Scale indicators9 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Apex Clean Energy: Charlottesville-based utility-scale wind, solar, and storage developer with a multi-GW greenfield pipeline and similar landowner/utility go-to-market. Highly comparable in pipeline scale, customer base, and capital structure; GSP Director of Development (Jon Yost) joined from Apex.
• Longroad Energy: Boston-based utility-scale solar and storage developer with operations across ERCOT, PJM, SPP, and CAISO — directly overlapping GSP's target ISOs. Comparable business model of greenfield development, project sale or retention, and similar capital partner mix.
• Arevon Energy: Scottsdale-based utility-scale solar and storage developer backed by Blackstone with multi-GW operational and in-development portfolio. Directly comparable product (solar+storage) and customer base (utilities, corporates); much larger but same value chain.
• Pine Gate Renewables: Asheville-based utility-scale solar and storage developer with a 25+ GW pipeline focused on community and utility partnerships. Directly comparable in scale, developer/owner-operator model, and emphasis on landowner relationships (now part of EDP Renewables).
• Copia Power: Chicago-based solar and storage developer with 1.5+ GW in development in the Midwest. Directly comparable size and product offering; GSP Director of Development for PJM (Emily Strobach) was previously at Copia.
• Origis Energy: Miami-based utility-scale solar and storage developer with operations in MISO, PJM, ERCOT, and SPP — significant geographic overlap with GSP. Comparable pipeline scale and developer-to-owner-operator model.
• Avantus (formerly CS Energy): Solar and storage EPC + developer serving utility and C&I customers across the U.S. Overlaps with GSP in development approach and customer base, with a comparable focus on utility-scale storage and community engagement.
• Leeward Renewable Energy: San Francisco-headquartered utility-scale wind and solar developer with a 2+ GW operational portfolio and active development pipeline. Comparable geographic and customer overlap and a similar developer-to-long-term-owner business model.

Broad incumbents

• EDP Renewables North America: Major global renewable developer with a large North American wind, solar, and storage portfolio. GSP is a niche, faster-moving competitor pursuing similar offtake and tax equity markets; multiple GSP team members are EDP alumni (Heath Herje).
• Enel Green Power North America: Subsidiary of Enel Group and one of the largest renewable developers in North America. GSP's three co-founders and several other team members are former EGPNA leaders; the two companies compete for similar utility customers and tax equity sources.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Granite Source Power