Global Infrastructure Partners (GIP) and co-investors closed on a $500 million investment in independent power producer BrightNight, LLC, a Florida-based solar and energy storage developer. The investment includes preferred equity and a letter of credit facility.
GIP made the investment through Global Infrastructure Partners Capital Solutions Fund II (GIP CAPS II).
The preferred equity will fund BrightNight’s development efforts and meet equity funding needs during project construction and operation. The letter of credit will offer committed capacity for BrightNight to further its project development and construction pipeline, as well as ongoing plant operations.