Peregrine Energy Solutions, a prominent player in the clean energy sector, has announced a significant step forward in its mission to revolutionize the energy landscape. The company has successfully inked an agreement with AB CarVal, a renowned asset management firm, to secure a funding injection exceeding $700 million. This substantial capital infusion will play a pivotal role in fueling Peregrine’s ambitious multi-technology clean energy platform, with a primary focus on utility-scale energy storage.
Peregrine Energy Solutions is uniquely positioned as an integrated clean energy platform that integrates multiple cutting-edge technologies. Its scope encompasses a wide spectrum of clean energy solutions, with a particularly strong emphasis on utility-scale energy storage. The company’s latest triumph involves the signing of an agreement that will provide it with a comprehensive financial boost, combining credit, equity, and debt. This newfound funding will be channeled towards Peregrine’s extensive pipeline, boasting a staggering capacity of over seven gigawatts across an array of high-quality projects. These projects span various clean energy domains, encompassing standalone battery systems, solar installations, and wind power technologies.
One of the most promising aspects of this development is Peregrine’s strategic expansion across diverse energy markets. This funding enables the company to advance its project portfolio across five independent system operators (ISOs) and a total of 10 states. The ultimate goal of these endeavors is to achieve the Commercial Operation Date (COD), marking the transition to operational status for each project. By achieving this milestone, Peregrine is set to significantly contribute to grid stability, the seamless integration of renewable resources, and the establishment of structured energy solutions.
Hagen Lee, Chief Executive Officer and Founder of Peregrine, expressed his optimism about the partnership with AB CarVal. Lee affirmed that the capital influx holds the potential to accelerate the realization of Peregrine’s renewable and storage projects. The company is keen on not only bringing these projects to operational status but also optimizing their performance to deliver sustained benefits to the clean energy landscape.
Jody Gunderson, Managing Principal at AB CarVal, echoed the sentiment of confidence in this partnership. He highlighted the increasing demand for renewable energy and energy storage solutions in the evolving energy transition scenario. As markets across North America continue to witness a surge in the adoption of cleaner alternatives, Peregrine is poised to play a pivotal role in providing state-of-the-art technologies and assets to meet this growing demand.
Peregrine Energy Solutions sets itself apart through its comprehensive approach to sourcing, developing, constructing, and managing standalone battery energy storage and renewable energy assets. The company’s endeavors are backed by a team of seasoned industry professionals with an impressive collective experience of over 20 gigawatts in the development of renewable energy and storage facilities.
As the world embarks on a transformative journey towards sustainable energy systems, Peregrine Energy Solutions’ strategic partnership with AB CarVal and the substantial funding infusion mark a significant leap forward. With a robust portfolio of projects spanning diverse geographical and technological domains, Peregrine is poised to make a lasting impact on the clean energy landscape and contribute to a more sustainable future.