[Funding News] BrightNight Secures $440 Million Strategic Investment from Goldman Sachs Alternatives

BrightNight, the next-generation renewable power producer built to deliver clean and dispatchable power solutions, today announced the successful closing of a $440 million strategic equity investment from Goldman Sachs Alternatives.

This investment, together with existing capital commitments from leading institutional investors, is expected to fully fund BrightNight’s five-year business plan and advance the execution of its 31-gigawatt renewable power project portfolio, which includes solar, energy storage, and hybrid solutions.

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BrightNight Chairman and CEO Martin Hermann said: “We are excited to partner with Goldman Sachs. This investment, as well as their deep energy transition and capital markets experience, will help drive the execution of our IPP business model and the build-out of our utility-scale portfolio, delivering cutting-edge clean power projects to serve our customers across the U.S.”

Global Infrastructure Partners will continue to support BrightNight with its existing capital commitment, which will fund construction equity needs for BrightNight’s projects.

Additionally, BrightNight announced the upsize of its corporate credit facility initially announced earlier this year from $375 million to $400 million. This credit facility will provide BrightNight with the necessary balance sheet support to execute on its U.S. project portfolio, delivering critical clean energy infrastructure to serve BrightNight’s customers across the U.S. The credit facility is structured as a Green Loan, in alignment with Green Loan principles.

BofA Securities, Inc. and PJT Partners acted as financial advisors to BrightNight on Goldman Sachs Alternatives’ investment and Taft Stettinius & Hollister acted as legal advisor. Jefferies LLC acted as sole financial advisor, and Weil, Gotshal & Manges LLC served as legal counsel to Goldman Sachs Alternatives.

Latham and Watkins and PEI represented BrightNight in the corporate credit facility transaction. Norton Rose Fulbright served as Lender Counsel.

About BrightNight

BrightNight is a leading renewable integrated power company designed to provide utility, commercial, and industrial customers with clean, dispatchable renewable power solutions. BrightNight works with customers across the U.S. to design, develop, and operate safe, reliable, large-scale renewable power projects optimized to manage the intermittent nature of renewable energy.

About Infrastructure at Goldman Sachs Alternatives

Goldman Sachs (NYSE: GS) is one of the leading investors in alternatives globally, with over $450 billion in assets and more than 30 years of experience. The business invests in the full spectrum of alternatives, including private equity, growth equity, private credit, real estate, infrastructure, hedge funds, and sustainability. Clients access these solutions through direct strategies, customized partnerships, and open-architecture programs.