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Latest News  + Alternative Assets  + Markets  + Real Assets  |  September 8, 2023
Clean Energy Platform Peregrine Secures $700M from ABCarVal
Joe Palmisano
By: Joe Palmisano

Peregrine Secures $700M from ABCarVal

Clean energy platform Peregrine Energy Solutions has secured $700 million in credit, equity and debt financing from alternative asset manager AB CarVal to bring its pipeline of solar, wind and battery projects online.

The pipeline spans across 10 states and five independent system operators, with a total capacity of over 7GW of standalone solar, energy storage, and wind projects.

“This capital has the potential to accelerate our pipeline of high quality renewable and storage projects, taking them to COD (Commercial Operation Date) and on to successful operation and optimization,” said Hagen Lee, CEO and founder of Peregrine.

Formed in 2022, the Boulder, CO-headquartered Peregrine is not new to the renewable energy sector. In February, the company received an undisclosed investment from South Korean alternative asset manager IMM Investment Global for a battery energy storage system (BESS) portfolio.

Prior to that, Peregrine had acquired two projects with a combined capacity of 490MW from Black Mountain Energy.

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Peregrine Energy Solutions AB CarVal

About Joe Palmisano

Joe Palmisano is editorial director of Connect Money, where he oversees daily coverage of alternative assets, direct investments, financial advisory and the economy. He brings three decades of experience as a financial journalist, analyst and portfolio manager. Before joining Connect Money, Palmisano wrote for The Wall Street Journal, covering foreign exchange, global fixed-income and equity markets. He later served as a senior research analyst and portfolio manager, producing market analysis and managing foreign exchange and U.S. equity portfolios for FX Concepts. His work has also appeared in SFO Magazine and CMT Association publications. Palmisano earned a bachelor’s degree in finance from The American University and holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.
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