BrightNight acquires full control of US renewables joint venture from Cordelio Power

BrightNight completed the acquisition of full control over a US renewables joint venture previously held with Cordelio Power, gaining independent authority to advance, finance, construct, and operate 6 GW of projects across western US power markets. The transaction concludes a six-year partnership that initially covered 15 GW of resources, with 1.1 GW already operational or under construction, including projects like the 300 MW Box Canyon solar plant in Arizona and the 200 MW / 800 MWh Greenwater battery storage project in Washington. BrightNight now positions itself as a leader in dispatchable clean energy through integrated solar and storage systems, including its Energeist hybrid power systems designed to reliably connect large loads to the grid. The deal enhances BrightNight's Western Interconnection presence, adding active projects in Arizona, Oregon, Washington, Utah, California, Colorado, and Wyoming, while reinforcing its strategy of developing large-scale energy infrastructure for utilities, commercial, and industrial customers. Martin Hermann, BrightNight's CEO, highlighted the collaboration's success during the joint venture's closure, emphasizing the company's expanded capabilities in congested, rapidly growing energy markets. Patrick Smith, BrightNight's VP of Business Development and M&A, noted the 6 GW transaction ranks among the largest in the past 12 months, significantly strengthening the company's market position.

Counterparts (2)

Buyer

BrightNight

company · 1 deals

BrightNight is a global renewable energy developer specializing in hybrid power projects, primarily combining utility-scale solar PV and battery energy storage. The company focuses on delivering dispatchable, reliable, and cost-effective clean energy solutions for utilities, corporations, and communities across the U.S. and international markets, with a significant development pipeline in North America and Asia Pacific.

Seller

Cordelio Power

company · 2 deals

New York-based renewable energy developer and operator with 1,860 MW of assets across the USA and Canada. Focuses on utility-scale wind and solar projects, owned by Canada Pension Plan Investment Board.