CIM Group secures $400 million financing commitment and long-term power purchase agreement for Permanent Power Company's national power platform
Type: Financing · Technology: Solar, Storage, Transmission · Country: United States · Value: $400M · Announced: 2026-05-15
CIM Group launched Permanent Power Company, a national power platform consolidating solar generation, energy storage, and transmission infrastructure under one entity. The company secured a long-term power purchase agreement (PPA) with the regulated power division of a $200 billion global energy supermajor, ensuring stable demand for its power generation assets. Additionally, CIM Group announced a $400 million financing commitment to support the platform's expansion across the United States. The platform is designed for long-term growth, operational efficiency, and sustained ownership, with a strategic focus on projects in qualified rural Opportunity Zones. Permanent Power Company aims to meet growing demand for power generation and energy storage by developing, acquiring, and operating projects nationwide.
Counterparties
- CIM Group (Developer)
- Global energy supermajor (Offtaker)