Peregrine Energy Solutions Secures Funding to support a $317 Million Battery Energy Storage Project Currently Under Construction

Core Insights - Peregrine Energy Solutions has secured a preferred equity commitment from Bildmore Clean Energy for a battery energy storage project currently under construction, alongside financing from a group of lenders [1][2] - The company has developed a pipeline of 15 GWh of storage across various regions, with two projects under construction in Texas [2] - Peregrine has previously announced multiple rounds of financing in 2023, indicating strong investor support [2] Company Overview - Peregrine Energy Solutions was founded in April 2022 and focuses on utility-scale energy storage [3] - The company is a partnership between Peregrine Energy Management and a global alternative investment manager with approximately $20 billion in assets [3] Financing Details - The recent financing includes a preferred equity commitment and bridge financing from First Citizens Bank and Societe Generale, highlighting the innovative capital structure supporting Peregrine's growth [1][2] - Previous financing rounds in 2025 included $53 million from Bildmore and $115 million from First Citizens Bank and Nomura Securities [6] Partner and Investor Profiles - Bildmore Clean Energy specializes in providing preferred equity commitments for utility-scale battery storage and solar projects [5] - AB CarVal, part of AllianceBernstein, has invested over $6 billion in energy transition investments since 2017 [4] - First Citizens Bank and Societe Generale are key financial partners, with First Citizens having over $200 billion in assets and Societe Generale serving clients in 62 countries [7][8]