Developer Peregrine Energy Solutions bags US$700 million for US storage, solar pipeline

LinkedIn
Twitter
Reddit
Facebook
Email

Developer Peregrine Energy Solutions has raised US$700 million in credit, equity and debt to go towards its US pipeline of energy storage, solar and wind projects.

The company, formed in 2022 in partnership between Peregrine Energy Management and asset management firm Castlelake, prioritises utility-scale battery energy storage systems (BESS) in the US, but also has solar and wind projects in its asset pipeline.

This article requires Premium SubscriptionBasic (FREE) Subscription

Enjoy 12 months of exclusive analysis

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Annual digital subscription to the PV Tech Power journal
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

Peregrine said that its pipeline spans ten states and five independent system operators, and the capacity of this pipeline exceeds 7GW of standalone solar, energy storage and wind projects.

Alternative investment and asset manager AB CarVal, which owns the ‘largest’ low-income community solar project in California, Fresno’s DAC solar farm, provided funding for Peregrine’s upcoming projects.

Energy-Storage.news has covered Peregrine Energy Solutions’ BESS operations in the past. In February, the company announced investment from South Korean alternative asset management company IMM Investment Global for a BESS portfolio, after acquiring two projects from Black Mountain Energy with a combined capacity of 490MW.

To see the original version of this article go to PV Tech Power.

17 June 2025
Napa, USA
PV Tech has been running PV ModuleTech Conferences since 2017. PV ModuleTech USA, on 17-18 June 2025, will be our fourth PV ModulelTech conference dedicated to the U.S. utility scale solar sector. The event will gather the key stakeholders from solar developers, solar asset owners and investors, PV manufacturing, policy-making and and all interested downstream channels and third-party entities. The goal is simple: to map out the PV module supply channels to the U.S. out to 2026 and beyond.
1 July 2025
London, UK
UK Solar Summit 2025 will look at the role solar currently plays in the energy mix, how this will change over the coming years and how this aligns with net-zero and other government targets. We will break down all these challenges and help build up solutions through discursive panels, motivational keynotes and case studies, with newly added interactive sessions to get you moving and meeting your peers, making the connections you need to boost your business.

Read Next

April 30, 2025
NYSERDA has launched a programme to incentivise residential and retail energy storage in the state, offering a total of US$775 million for energy storage projects.
April 29, 2025
A panel discussed the impact of CAISO’s interconnection reforms at last month’s Energy Storage Summit USA 2025 in Dallas.
April 29, 2025
Energy-Storage.news proudly presents our sponsored webinar with Clean Horizon on the economics of renewables-plus-storage in Europe.
April 29, 2025
Australian renewables developer Edify Energy submits 180MWh solar-plus-storage site in New South Wales to Australia’s EPBC Act.
April 28, 2025
Flow battery startup Quino Energy and developer Long Hill Energy Partners have been awarded US$10 million in grant funding by the California Energy Commission (CEC) to support a 8MWh flow battery energy storage system (BESS) project in Lancaster, California, US.

Most Popular

Email Newsletter