BrightNight secures USD-440m investment from Goldman Sachs

Florida-based renewables company BrightNight has secured a USD-440-million (EUR 406m) strategic investment from US investment bank Goldman Sachs (NYSE:GS).

BrightNight said today that the investment from the Infrastructure business at Goldman Sachs Alternatives, along with existing capital commitments, will fully fund its five-year business plan and advance execution of its 31-GW project portfolio.

"We share a joint ambition to build a leading renewable independent power producer (IPP) and, through this partnership, we look to accelerate its growth by providing long-term capital backing and leveraging our firm's capabilities and relationships in the sector," said Cedric Lucas, managing director in Infrastructure at Goldman Sachs Alternatives.

Teresa Mattamouros, also a managing director at Goldman Sachs Alternatives, added that demand for renewable energy continues to benefit from strong energy transition trends, including corporate decarbonisation goals and both federal and state-level policy support.

BrightNight serves utility and commercial and industrial customers across the US and is also active in the Asia Pacific region. In addition to Goldman Sachs, its investors and partners include Global Infrastructure Partners and CPPIB-backed Cordelio Power.

(USD 1 = EUR 0.924)

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