Peregrine Energy Solutions, a Boulder, CO-based provider of an integrated multi-technology clean energy platform with a focus on utility-scale storage, closed a $53M in equity funding.
Backers included Bildmore Clean Energy.
Concurrently, Peregrine also secured a $115M bridge financing facility to fund the remaining construction of the project. First Citizens Bank acted as Joint Coordinating Lead Arranger and Collateral Agent for the facility, and Nomura Securities International, Inc. acted as Joint Coordinating Lead Arranger and Administrative Agent.
The project is targeted for completion in the fourth quarter of 2025.
Founded by Hagen Lee in April 2022, Peregrine has originated and developed a pipeline of 22 GWh of storage across SPP, MISO, ERCOT, PJM and WECC. Assets developed and managed by the company benefits from a team of renewable energy veterans who collectively bring over 20 GW of renewable energy and storage facilities development experience. In the past two years, the company announced a $700m capital raise from funds managed by AB CarVal, as well as securing an LC facility from KKR that can provide financing for up to $250 million in assets.
FinSMEs
17/03/2025