Peregrine Energy Makes $700 Million Financing Deal with AB CarVal


Peregrine Energy Solutions LLC, an integrated multi-technology clean energy platform focusing on utility-scale energy storage, has signed an agreement with funds managed by AB CarVal to raise over $700 million of credit, equity and debt to finance Peregrine’s pipeline of over 7 GW of projects, including standalone battery, solar and wind technologies.

This funding will allow Colorado-based Peregrine to bring its project portfolio, which spans five independent system operators and 10 states, to commercial operation date, ultimately providing grid stability, renewables integration and structured energy solutions. It will also allow the firm to capture market arbitrage opportunities and continue expanding into new areas for growth.

“The Peregrine team has extensive industry relationships and knowledge, and we are confident that through our partnership, we will build a dynamic portfolio of storage and renewable assets,” says Jody Gunderson, managing principal, AB CarVal. “In this energy transition, we anticipate strong and growing demand for renewables and storage across North America, and we believe Peregrine is well-positioned to deliver best-in-class technologies and assets in high-demand markets.”

The Peregrine team seeks to source, develop, build and manage standalone battery energy storage and renewable energy assets across North America. Assets developed and managed by Peregrine benefit from a team of renewable energy veterans who collectively bring over 20 GW of renewable energy and storage facilities development experience.

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