BrightNight and Cordelio finalise $400mn financing for Greenwater project
The 200 MW Greenwater battery storage project enters execution phase following a $400mn bank financing, marking a strategic milestone in the Pacific Northwest’s energy infrastructure development.
| Sectors | Energy Storage, Batteries |
|---|---|
| Themes | Investments & Transactions, Project Development, Financing |
BrightNight, a company active in power and digital infrastructure, and Cordelio Power, its joint venture partner, announced the financial close of the Greenwater storage project located in Pierce County, Washington. With a capacity of 200 megawatts (MW) and 800 megawatt-hours (MWh), this lithium-ion Battery Energy Storage System (BESS) is designed to deliver firm capacity and grid stabilisation services to regional operator Puget Sound Energy.
The financing totals approximately $400mn, provided by a consortium of lenders including Royal Bank of Canada, Crédit Agricole Corporate and Investment Bank, CoBank ACB, National Bank of Canada, Fédération des caisses Desjardins du Québec, and Zions Bancorporation. This project is the first jointly held asset by both companies in the Pacific Northwest to reach this milestone.
Strategic grid connection
Greenwater will be connected via a short transmission line to the existing White River substation. This infrastructure aims to enhance grid reliability while supporting renewable energy integration. The facility is designed to operate without water usage and with minimal environmental impact, in line with regional goals of reliability and resource adequacy.
Development activities are already underway, with commercial operation targeted for 2026. The project includes an emergency and safety management plan and a formal commitment to site restoration upon decommissioning. The partners state they have engaged local stakeholders and landowners from the early stages of the project.
Industrial partnership and regional expansion
BrightNight will implement its proprietary PowerAlpha platform to oversee project operations upon completion. This software, along with in-house development and operations capabilities, is positioned as central to addressing evolving grid requirements.
This development is a key milestone in BrightNight and Cordelio’s strategy to expand in the Pacific region, where both companies maintain a growing pipeline of projects. The Greenwater project aligns with broader efforts to strengthen local power infrastructure in response to rising demand and intermittent energy integration objectives.
