US multi-technology clean energy platform Peregrine Energy Solutions LLC has signed a deal with funds managed by AB CarVal to raise more than USD 700 million (EUR 647.5m) of credit, equity and debt.
The Boulder, Colorado-based company plans to use the money to finance a 7-GW pipeline of standalone battery, solar and wind projects in North America. The assets within said portfolio span five independent system operators (ISOs) and 10 states, according to an announcement on Monday.
“AB CarVal will provide significant new liquidity for Peregrine to advance our value creation pathways. This capital has the potential to accelerate our pipeline of high quality renewable and storage projects, taking them to COD [Commercial Operation Date] and on to successful operation and optimisation,” said Hagen Lee, chief executive officer and founder of Peregrine.
(USD 1.0 = EUR 0.925)
