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Alternative Assets  + Real Assets  |  August 6, 2024
Goldman Sachs Invests $440M in Renewables Platform BrightNight
Joe Palmisano
By: Joe Palmisano

Goldman Sachs Invests $440M in Renewables Platform BrightNight

Goldman Sachs Alternatives has made a $440 million strategic investment in BrightNight, a renewable power company. The investment, along with existing capital commitments, is expected to fully fund BrightNight’s five-year business plan and advance the execution of its 31-gigawatt renewable power project portfolio.

“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,” said Cedric Lucas, managing director in infrastructure at Goldman Sachs Alternatives.

The transaction is set to close in September 2024.

West Palm Beach-FL-based BrightNight serves utility and commercial and industrial customers across the US and is active in the Asia Pacific region. In addition to Goldman Sachs, its investors and partners include Global Infrastructure Partners and CPPIB-backed Cordelio Power.

BofA Securities, Inc. and PJT Partners acted as financial advisors to BrightNight. Jefferies LLC acted as sole financial advisor and Weil, Gotshal & Manges served as legal counsel to Goldman Sachs Alternatives

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Goldman Sachs AlternativesBrightNight

About Joe Palmisano

Joe Palmisano is Editorial Director for Connect Money, where he brings nearly three decades experience of market insights as a financial journalist, analyst and senior portfolio manager for leading financial publications, advisory firms, and hedge funds. In his role as Editorial Director, Joe is responsible for the selection of content and creation of daily business news covering the financial markets, including Alternative Assets, Direct Investment and Financial Advisory services. Before joining Connect Money, Joe was a financial journalist for the Wall Street Journal, regularly publishing feature stories and trend pieces on the foreign exchange, global fixed income and equity markets. Joe parlayed his experience as a financial journalist into roles as a Senior Research Analyst and Portfolio Manager, writing daily and weekly market analysis and managing a FX and US equity portfolio. Joe was also a contributing writer for industry magazines and publications, including SFO Magazine and the CMT Association. Joe earned a B.S.B.A. in Finance from The American University. He holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.
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