US independent power producer (IPP) BrightNight has acquired a 6GW portfolio of projects previously held under its joint venture (JV) with Canadian asset manager Cordelio Power.
Under the agreement, BrightNight will assume full ownership and control of the JV’s development portfolio, enabling it to independently advance, finance, construct and operate the projects going forward.
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“This 6GW transaction is one of the largest in the last 12 months and enhances BrightNight’s Western Interconnection presence, which includes active projects in Arizona, Oregon, Washington, Utah, California, Colorado and Wyoming,” said Patrick Smith, vice president, business development and M&A at BrightNight.
“It also reinforces the company’s strategy of developing and operating large-scale energy infrastructure sites that serve utilities, commercial and industrial customers in the fastest-growing energy markets in the United States.”
The JV was established in 2020 to develop and commercialise 15GW of utility-scale projects. To date, 1.1GW has either reached commercial operations or remains in the pipeline.
The BrightNight–Cordelio Power joint venture will retain four assets, including the 300MW Box Canyon solar project in Arizona, which is already in operation and serving regional load; the 200MW/800MWh Greenwater battery energy storage project in Washington, currently under construction; the Pioneer project in Arizona, comprising 300MW/1,200MWh of solar-plus-storage, also under construction; and the fully contracted Biglow 1 project, which includes 125MW of solar alongside 600MWh of battery storage.
The JV’s operational assets, along with projects currently under construction in the eastern US, will continue to be managed without disruption.
BrightNight develops and operates large-scale energy projects integrating utility-scale renewables, gas generation and battery storage. Its 30GW portfolio is concentrated in the US energy markets and data centre hubs.
Recently, the IPP has secured US$850 million of credit facility to accelerate the development of its western US pipeline, particularly across Arizona, Oregon and Washington.
Last year, the company reached commercial operations at the 300MW Box Canyon solar PV plant in Pinal County, Arizona, developed under the JV. The project is part of a 2.5GW Arizona portfolio jointly owned by the two companies and was the first asset in the portfolio to reach commercial operations.
