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Clean Energy Platform Peregrine Secures $700M from ABCarVal

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 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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