BrightNight, a next-generation power and digital infrastructure company with a 30 GW national portfolio, announced the first closing of its upsized corporate credit facility.
The corporate facility provides a maximum total commitment of up to $850 million, including up to $550 million for letters of credit, up to $200 million for equipment deposits and limited notice to proceed facilities, and $100 million in revolving credit capacity. The first closing includes participation from both existing and new lenders.
ING Capital, First Citizens Bank, HSBC, Natixis Corporate & Investment Banking and ICBC Standard Bank are serving as coordinating lead arrangers. BHI (Bank Hapoalim) is acting as joint lead arranger, and East West Bank is participating in the facility.
The upsized facility provides significant incremental capital to support BrightNight’s accelerating growth strategy. Proceeds are being used to support credit obligations and capital requirements across BrightNight’s expanding development and construction portfolio. The expanded Corporate Facility also provides the financial capacity to accelerate advancement of BrightNight’s Western U.S. pipeline, particularly across Arizona, Oregon and Washington. With increased liquidity and credit support, the company is positioned to move a larger volume of projects through key development milestones, including grid interconnection, regulatory approvals, long-lead equipment commitments, and early-stage construction readiness in these priority markets.
“This successful closing reflects strong lender confidence in BrightNight’s portfolio, execution capabilities, and long-term strategy,” said Adam Peakes, chief financial officer of BrightNight. “The corporate facility significantly enhances our financial flexibility and strengthens our ability to deliver large-scale energy and infrastructure projects in the fastest-growing power markets in the United States.”
“The upsizing of the corporate facility meaningfully expands our access to flexible, cost-effective capital,” said Jatin Gupta, Chief Investment Officer of BrightNight. “The facility provides critical credit support capacity for new PPAs and LGIAs while also supporting equipment deposits and pre-construction activities. It enables us to accelerate development across our western portfolio and optimize capital deployment across high-priority markets. We are pleased to welcome new lending partners and deeply value the continued support of our existing lenders as we scale our platform.”
BrightNight expects to complete a second closing of the corporate facility in the second quarter as additional interested lenders complete their due diligence process.
