The money was delivered through the Infrastructure business at Goldman Sachs Alternatives, which the bank says has invested over US$16 billion in different infrastructure projects and classes since its inception in 2006. The Infrastructure business invests across the energy transition, digital infrastructure, transportation & logistics, and social infrastructure sectors.
Teresa Mattamouros, managing director of Infrastructure at Goldman Sachs Alternatives said: “Demand for renewable energy continues to benefit from strong secular energy transition tailwinds, including substantial corporate decarbonisation goals and both federal and state-level policy support.
“We have been impressed by BrightNight’s unique development approach, focusing on markets with attractive commercial dynamics and targeting high-value interconnection positions.”
BrightNight said the funding will also advance its 31GW renewable energy project portfolio.
In May, the company secured a US$414 million construction credit facility to support the execution of its 300MW Box Canyon solar PV project in the US state of Arizona. The IPP is also currently undertaking the development of 800MW of solar PV in the state of Kentucky. This capacity will replace operations at a former coal mine, the Starfire Mine. Construction is slated to begin on the first part of the project in 2025.
Outside of the US, the company is also undertaking projects in the Philippines and Australia. Last week, the Australian Electricity Market Operator (AEMO) granted BrightNight approval to connect its Mortlake Energy Hub project to the Victoria grid. The site comprises a 360MW solar PV project alongside a 300MW battery energy storage system (BESS).
