US-based BrightNight, a leading renewable energy company, has secured a $440 million investment from Goldman Sachs Alternatives’ Infrastructure business. This funding, combined with existing commitments, will fully finance BrightNight’s five-year business plan and support its extensive 31 GW renewable portfolio, enhanced by its AI software platform, PowerAlpha. The investment will strengthen BrightNight’s balance sheet and facilitate growth in its renewable power capabilities. The deal, expected to finalize in September 2024, highlights the robust nature of BrightNight’s platform and its innovative solar and storage projects. Global Infrastructure Partners will continue its support with ongoing capital commitments while maintaining a minority equity stake. Financial advisory was provided by BofA Securities, Inc. and PJT Partners for BrightNight, with Jefferies LLC and Weil, Gotshal & Manges LLC advising Goldman Sachs Alternatives.
BrightNight gains $440 million investment for solar projects
The strategic investment is expected to strengthen BrightNight’s balance sheet and facilitate renewable power growth. (Image Credit: Pixabay)
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