Peregrine Energy Solutions has signed an agreement with the Minneapolis-based investment manager AB CarVal to raise more than $700 million of credit, equity and debt to fund Peregrine’s pipeline of over 7 gigawatts of projects, including standalone battery, solar and wind technologies.
The funding will allow Peregrine to bring its project portfolio, which spans five independent system operators and 10 states, to provide grid stability, renewables integration and structured energy solutions. It will also allow the firm to capture market arbitrage opportunities and continue expanding into new areas for growth.
“AB CarVal will provide significant new liquidity for Peregrine to advance our value creation pathways,” said Hagen Lee, chief executive officer and founder of Peregrine. “This capital has the potential to accelerate our pipeline of high quality renewable and storage projects, taking them to COD and on to successful operation and optimization.”
Based in Boulder, Colorado, Peregrine is an integrated multi-technology clean energy company with a focus on utility-scale energy storage.
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