Connection

popular articles

Tesla overtakes Sungrow as world leader in energy storage in 2023
Tajikistan increases capacity of Kayrakkum hydropower plant
Renewable Land acquires 435 acres in Ohio for major solar project
Turkey Facing the Expiration of Major Gas Contracts in 2025-2026
Countrywide Hydrogen and Tasmania push for Green Hydrogen

Goldman Sachs invests USD 440 million in BrightNight

Goldman Sachs Alternatives invests USD 440 million in BrightNight to support the expansion of its renewable energy projects in the United States.
goldmanSachs

Please share:

Goldman Sachs Alternatives announces a USD 440 million investment in BrightNight, a leading renewable energy company.
The investment is designed to support BrightNight’s five-year growth plan and accelerate the execution of its 31 gigawatt project portfolio, powered by its AI platform, PowerAlpha®.
This initiative strengthens BrightNight’s position in the U.S. clean energy market.
This investment provides BrightNight with a strategic partner with extensive experience in energy transition and capital markets.
Completion of the transaction is scheduled for September 2024, consolidating the company’s financial and operational capabilities.

Strengthening Market Position

Cedric Lucas, Managing Director at Goldman Sachs Alternatives, says this investment demonstrates the robustness of BrightNight’s platform and portfolio of solar and storage projects.
The aim is to establish BrightNight as a leading independent producer of renewable energy (IPP).
The partnership aims to accelerate BrightNight’s growth through long-term financial support and by leveraging Goldman Sachs’ capabilities and relationships in the sector.
Teresa Mattamouros, Managing Director at Goldman Sachs Alternatives, adds that demand for renewable energy is underpinned by strong corporate decarbonization targets and supportive federal and state policies.
She expresses her admiration for BrightNight’s unique approach, focused on markets with attractive commercial dynamics and high-value interconnection positions.

Innovative Approach and Customer Commitment

Martin Hermann, President and CEO of BrightNight, says the company is capitalizing on strong energy transition trends.
BrightNight has rapidly built a diversified portfolio in high-demand markets for decarbonized energy solutions.
Withits world-class team and PowerAlpha® AI platform, BrightNight is well positioned to maximize value for its utility and enterprise customers.
Hermann sees this partnership with Goldman Sachs as a catalyst to continue their mission of providing high-quality renewable energy solutions.
BrightNight CFO Brian Boland is also delighted with the partnership.
He notes that Goldman Sachs’ investment, in addition to existing capital commitments, will support the execution of their IPP model and the expansion of their portfolio at scale.
This will provide essential clean energy infrastructure for their customers across the US.

Ongoing support from existing investors

Global Infrastructure Partners (GIP) continues to support BrightNight with its existing capital commitment for construction fund requirements and maintains its minority equity interests.
GIP has played a crucial role in BrightNight’s financial and operational support, and their continued support is essential to the company’s development.
BrightNight’s financial advisors include BofA Securities, Inc.
and PJT Partners.
Jefferies LLC acted as sole financial advisor to Goldman Sachs Alternatives, with Weil, Gotshal & Manges LLC as legal counsel.
Goldman Sachs Alternatives’ investment in BrightNight represents a major development for the U.S. renewable energy sector, with significant implications for the future expansion and development of clean energy infrastructure.

Register free of charge for uninterrupted access.

Publicite

Latest news

Ohmium and SwitcH2 Have Finalized a 300 MW Floating Project
Lightsource bp and Google have commissioned the 188 MW Honeysuckle Solar project in St. Joseph County, Indiana.
Tunnel under the English Channel: Getlink Still Weighed Down by Its Electric Cable Activity
Rally in Nantes Against Job Cuts at GE Vernova
The Mexican Senate Adopts Major Reform in the Electricity Sector

Recently published in

Lightsource bp and Google have commissioned the 188 MW Honeysuckle Solar project in St. Joseph County, Indiana.

Lightsource bp and Google have commissioned the 188 MW Honeysuckle Solar project in St. Joseph County, Indiana.
Sumitomo creates a joint venture to develop 1.5 GW of renewable energy in Virginia
Sumitomo Corporation establishes a partnership with CEP Solar to launch solar and energy storage projects totaling 1.5 GW in Virginia, thereby supporting the state's energy transition goals.
Sumitomo creates a joint venture to develop 1.5 GW of renewable energy in Virginia
Sumitomo Corporation establishes a partnership with CEP Solar to launch solar and energy storage projects totaling 1.5 GW in Virginia, thereby supporting the state's energy transition goals.
JinkoSolar Awards a 3 GW Solar Modules Contract with ACWA Power
JinkoSolar has signed a supply contract for 3 GW of photovoltaic modules with ACWA Power for the Haden and Al-Khushaybi projects, thereby supporting Saudi Arabia's decarbonization objectives.
JinkoSolar Awards a 3 GW Solar Modules Contract with ACWA Power
JinkoSolar has signed a supply contract for 3 GW of photovoltaic modules with ACWA Power for the Haden and Al-Khushaybi projects, thereby supporting Saudi Arabia's decarbonization objectives.
Gensol Engineering Secures AED 81.6 Million Contract in Dubai for Solar Installations
The Russian Deputy Prime Minister announces that the decision to increase oil production by OPEC+ in December remains uncertain, due to market fluctuations and global demand.
Gensol Engineering Secures AED 81.6 Million Contract in Dubai for Solar Installations
The Russian Deputy Prime Minister announces that the decision to increase oil production by OPEC+ in December remains uncertain, due to market fluctuations and global demand.

Nexif Ratch Energy finalizes the financial close of its 145MWp Bacolod Solar Project in the Philippines

Nexif Ratch Energy has completed the financial phase of its 145MWp Bacolod Solar Project in the Philippines, marking a significant step in the development of renewable energy in the region.
Opening of the Largest Solar Park in the Baltics in Estonia
The Kirikmäe Solar Park, with a capacity of 77.53 MW, becomes the largest in the Baltic states. This project, developed by Evecon and Mirova, meets the annual needs of 35,000 Estonian households.
Opening of the Largest Solar Park in the Baltics in Estonia
The Kirikmäe Solar Park, with a capacity of 77.53 MW, becomes the largest in the Baltic states. This project, developed by Evecon and Mirova, meets the annual needs of 35,000 Estonian households.
TOYO Co., Ltd Announces Plans for a 2 GW Solar Cell Manufacturing Facility in Ethiopia
TOYO Co., Ltd plans to establish a 2 gigawatt solar cell manufacturing plant in Ethiopia, leveraging favorable investment policies and the country's hydropower supply.
TOYO Co., Ltd Announces Plans for a 2 GW Solar Cell Manufacturing Facility in Ethiopia
TOYO Co., Ltd plans to establish a 2 gigawatt solar cell manufacturing plant in Ethiopia, leveraging favorable investment policies and the country's hydropower supply.
BrightNight Raises $260M for a 300MW Solar Project in Arizona
BrightNight announced the closing of a $260 million financing with J.P. Morgan and Capital One for the 300MW Box Canyon solar project in Arizona, marking a major milestone in the state's energy transition.
BrightNight Raises $260M for a 300MW Solar Project in Arizona
BrightNight announced the closing of a $260 million financing with J.P. Morgan and Capital One for the 300MW Box Canyon solar project in Arizona, marking a major milestone in the state's energy transition.

Huasun and ITRAMAS launch 1.5 GW solar projects in Malaysia to accelerate the energy transition

Huasun partners with ITRAMAS to develop 1.5 GW photovoltaic projects in Malaysia, strengthening the solar supply chain and the country's energy ambitions.
China Facing the Limits of Its Solar Supremacy: Overproduction, Tariffs, and Price Wars
Massive investments have enabled China to dominate the global solar energy market. However, this lead is now translating into major economic challenges amid overproduction, trade wars, and internal tensions.
China Facing the Limits of Its Solar Supremacy: Overproduction, Tariffs, and Price Wars
Massive investments have enabled China to dominate the global solar energy market. However, this lead is now translating into major economic challenges amid overproduction, trade wars, and internal tensions.
Corsica Sole inaugurates the Campet-et-Lamolère photovoltaic plant: energy innovation and heritage preservation
The town of Campet-et-Lamolère celebrates the inauguration of its photovoltaic plant, a project combining energy transition and heritage preservation, capable of producing 18.8 GWh per year, sufficient for 5,000 households.
Corsica Sole inaugurates the Campet-et-Lamolère photovoltaic plant: energy innovation and heritage preservation
The town of Campet-et-Lamolère celebrates the inauguration of its photovoltaic plant, a project combining energy transition and heritage preservation, capable of producing 18.8 GWh per year, sufficient for 5,000 households.
CEP Renewables Completes 19 MW Brownfield Solar Project in New Jersey
A public-private partnership remediates environmental damage while reducing the carbon footprint in New Jersey.
CEP Renewables Completes 19 MW Brownfield Solar Project in New Jersey
A public-private partnership remediates environmental damage while reducing the carbon footprint in New Jersey.

IEA: Global Renewable Capacity Could Triple by 2030 with Support from the South

According to the International Energy Agency, the world can triple its renewable energy capacities by 2030 if increased support is provided to developing countries, particularly in Africa and Southeast Asia.
EDPR Connects Its Largest Solar Project in Italy to the Grid
EDP Renewables (EDPR) has commissioned its largest solar project in Italy, "Campo Agrosolare Tuscia 15," strengthening its commitment to diversifying renewable energies and accelerating the energy transition across all its markets.
EDPR Connects Its Largest Solar Project in Italy to the Grid
EDP Renewables (EDPR) has commissioned its largest solar project in Italy, "Campo Agrosolare Tuscia 15," strengthening its commitment to diversifying renewable energies and accelerating the energy transition across all its markets.
BayWa r.e. Transfers a 200 MWac Solar Park to Nevada Gold Mines
BayWa r.e. has completed the construction and handed over the operation of a 200 MWac solar project to Nevada Gold Mines, marking an important milestone in Nevada's energy diversification.
BayWa r.e. Transfers a 200 MWac Solar Park to Nevada Gold Mines
BayWa r.e. has completed the construction and handed over the operation of a 200 MWac solar project to Nevada Gold Mines, marking an important milestone in Nevada's energy diversification.
United States: Heliene partners with Transition Equity Partners for 54 million USD
Heliene Inc. announces a strategic investment of 54 million USD with Transition Equity Partners to expand its solar manufacturing capacity in the United States, creating more than 150 jobs and increasing annual production to 1.5 GW.
United States: Heliene partners with Transition Equity Partners for 54 million USD
Heliene Inc. announces a strategic investment of 54 million USD with Transition Equity Partners to expand its solar manufacturing capacity in the United States, creating more than 150 jobs and increasing annual production to 1.5 GW.

South Africa: Finalization of an agreement for an 80 MW solar power plant

Northam has signed a Power Purchase Agreement (PPA) with an independent power producer for an 80 MW solar power plant to supply its Zondereinde operation in Limpopo.
South Africa: Mainstream Renewable Power finalizes a 50 MW solar project in Ilikwa
Mainstream Renewable Power has finalized the financing of its 50 MW solar project in Ilikwa, South Africa. This project introduces Renewable Energy Supply Agreements (RESA), offering flexible five to ten-year contracts to private and industrial companies.
South Africa: Mainstream Renewable Power finalizes a 50 MW solar project in Ilikwa
Mainstream Renewable Power has finalized the financing of its 50 MW solar project in Ilikwa, South Africa. This project introduces Renewable Energy Supply Agreements (RESA), offering flexible five to ten-year contracts to private and industrial companies.
Estonia: the largest solar park in the Baltic States is now operational
The largest solar park in the Baltic States has been inaugurated in Estonia by Evecon and Mirova. Located in Kirikmäe, this 77.53 MW park covers the annual energy needs of 35,000 households. This project marks a turning point for the region's energy transition.
Estonia: the largest solar park in the Baltic States is now operational
The largest solar park in the Baltic States has been inaugurated in Estonia by Evecon and Mirova. Located in Kirikmäe, this 77.53 MW park covers the annual energy needs of 35,000 households. This project marks a turning point for the region's energy transition.
NextEnergy signs a 20-year PPA for the UK’s largest solar farm
NextPower UK ESG, a subsidiary of NextEnergy Capital, has concluded a 20-year electricity sales agreement with Anglian Water for 90% of the production from the UK’s largest solar farm, Llanwern Solar Farm.
NextEnergy signs a 20-year PPA for the UK’s largest solar farm
NextPower UK ESG, a subsidiary of NextEnergy Capital, has concluded a 20-year electricity sales agreement with Anglian Water for 90% of the production from the UK’s largest solar farm, Llanwern Solar Farm.

JBB Advanced Technologies plans to acquire Proteus Power to strengthen its renewable assets

JBB Advanced Technologies, led by John B. Billingsley, has signed an exclusive letter of intent to acquire Proteus Power, an international developer of large-scale renewable energy projects, thereby strengthening its solar and storage capacities.
EBRD invests 100 million euros in Green Genius for European expansion
The European Bank for Reconstruction and Development (EBRD) is investing 100 million euros in Green Genius, a renewable energy company, to support its expansion in Europe and strengthen the energy transition in the region.
EBRD invests 100 million euros in Green Genius for European expansion
The European Bank for Reconstruction and Development (EBRD) is investing 100 million euros in Green Genius, a renewable energy company, to support its expansion in Europe and strengthen the energy transition in the region.
Adani Group and Google announce clean energy collaboration in India
Adani Group and Google have announced a partnership aimed at strengthening the sustainability goals of both companies and increasing the contribution of clean energy to the Indian power grid through a new solar-wind hybrid project.
Adani Group and Google announce clean energy collaboration in India
Adani Group and Google have announced a partnership aimed at strengthening the sustainability goals of both companies and increasing the contribution of clean energy to the Indian power grid through a new solar-wind hybrid project.
Akuo launches one of the largest solar plants in Portugal with 181 MW capacity
Akuo inaugurates the Santas solar power plant, one of the largest in Portugal, with 181 MWp capacity, supplying more than 100,000 households and reducing CO2 emissions by 70,000 tons per year.
Akuo launches one of the largest solar plants in Portugal with 181 MW capacity
Akuo inaugurates the Santas solar power plant, one of the largest in Portugal, with 181 MWp capacity, supplying more than 100,000 households and reducing CO2 emissions by 70,000 tons per year.

Advertising

LEGAL

FOSSILS

POLICY

RENEWABLE

PLUS

VERVANT

Welcome

Your subscription

Included in this subscription:

COMMUNICATE ON ENERGYNEWS