BHI provides BrightNight with US$25 million in financing
Published by Jessica Casey,
Editor
Energy Global,
BHI, the US Branch of Bank Hapoalim, B.M. and a full-service commercial bank, has announced that BHI and Bank Hapoalim are partnering on a loan which will provide US$25 million in financing to BrightNight, a renewable power company designed to provide utility and commercial and industrial customers with clean, dispatchable renewable power solutions.
BrightNight, founded in 2019 by Martin Hermann (the founder of 8minuteenergy) is backed by investors such as Goldman Sachs Alternatives and Global Infrastructure Partners. BrightNight focuses on originating, developing and owning BESS, photovoltaic solar, and hybrid plants. The company’s portfolio includes projects in different stages of development in the US (capacity of over 31.1 GW) and in APAC (capacity of over 5.6 GW).
The company targets blue-chip customers in attractive markets that are experiencing above average load growth, particularly in the Northwest, Southwest and Eastern regions of the US, including: Arizona, Washington, Colorado, Kentucky, Illinois, Utah, Oregon, and Indiana.
“The growing renewable energy sector is becoming a cornerstone of our global economy, and through BHI’s commitment to financing these developments, we’re investing in how this sector can build a more innovative and sustainable world for generations to come,” said Gal Defes, First Senior Vice President, Head of International C&I, High Tech and Corporate Banking Services at BHI. “The volume and velocity of demand we’ve seen across this sector is exciting and we’re eager to continue deploying capital that can help construct a brighter future.”
“BHI and Bank Hapoalim are experienced and accessible partners who are passionate about financing compelling developments in this sector that help accelerate the scale and adoption of renewable energy projects aimed at impacting and improving our society,” added BrightNight CFO, Brian Boland.
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Read the article online at: https://www.energyglobal.com/solar/27122024/bhi-provides-brightnight-with-us25-million-in-financing/
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