The infrastructure business at Goldman Sachs Alternatives has made a $440 million investment in BrightNight, a renewable power company focused on providing utility, commercial and industrials customers with renewable power services.
This investment is expected to fund BrightNight’s five-year business plan and advance execution of its 31-gigawatt renewable power project portfolio enhanced by its AI software platform, PowerAlpha.
“We share a joint ambition to build a leading renewable independent power producer (IPP) and, through this partnership, we look to accelerate its growth by providing long-term capital backing and leveraging our firm’s capabilities and relationships in the sector,” states Cedric Lucas, managing director in infrastructure at Goldman Sachs Alternatives.
BofA Securities Inc. and PJT Partners acted as financial advisors to BrightNight. Jefferies LLC acted as financial advisor and Weil, Gotshal & Manges served as legal counsel to Goldman Sachs Alternatives.