Peregrine Power Options (Peregrine), a clear power platform centered on utility-scale battery storage, introduced it has secured a most popular fairness dedication from Bildmore Clear Power for a battery storage venture now beneath building. On the similar time, Peregrine closed a financing facility with a lending group that features First Residents Financial institution and Societe Generale as coordinating lead arrangers, Siemens Monetary Providers as joint lead arranger, and East West Financial institution as a further lender.
Based by Hagen Lee in April 2022, Peregrine entered right into a financing partnership with funds managed by AB CarVal in 2023. Since then, the corporate has constructed a 15 GWh storage improvement pipeline throughout SPP, MISO, ERCOT, PJM and WECC, with two initiatives presently beneath building in Texas. This announcement follows a collection of financings accomplished in 2025, together with a $53 million most popular fairness dedication and $115 million bridge facility in March, and $130 million in new capital from a consortium of world traders in October.
“We’re thrilled to announce the closing of our second venture financing this 12 months,” mentioned Reid Strand, senior vp of finance with Peregrine. “As we proceed to speed up improvement throughout our portfolio, we’re grateful for continued help from main traders and lenders.”
David Haug, founder and CEO of Bildmore, added: “Bildmore is as soon as once more happy to accomplice with the Peregrine crew to supply most popular fairness and underpin bridge financing on one other prime quality ERCOT BESS venture. We recognize the creativity and innovation of Hagen Lee’s improvement and finance groups, and stay up for supporting them at any time when we will.”
“We’re happy to supply Peregrine with this progressive capital construction to facilitate the continued enlargement of battery storage power capability,” mentioned Mike Lorusso, managing director and group head for First Residents Financial institution’s Power Finance Group. “This represents our second financing with Peregrine and we stay up for persevering with to help them as they develop their portfolio.”
“This transaction marks an vital milestone in Peregrine’s improvement and we’re joyful to have the ability to lead financings that help their continued development,” mentioned Kevin Cartoski, a vp within the Power+ Group for Societe Generale.
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