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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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Inside The Story

Goldman Sachs AlternativesBrightNight

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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