Nighthawk Energy Storage — 300 MW / 1,200 MWh BESS in Poway, California
$482M debt facility (CIBC left lead arranger, ING, NORD/LB, Santander, Zions), $169M preferred equity from Goldman Sachs Alternatives, $268M tax credit transfer. One of the largest standalone BESS financings in the US.
$920M
Deal Value
300MW
Capacity
1,200MWh
Storage
BESS
Technology
CA
Location
Deal Details
- Deal Type
- Project Finance
- Seller / Sponsor
- Arevon Energy
- Buyer / Financier
- CIBC, ING, NORD/LB, Santander, Zions Bancorporation, Goldman Sachs Alternatives
- Deal Value
- $920M
- Stage
- Under Construction
- ISO/RTO
- CAISO
- Source
- PR Newswire
Capital Structure
$920M
Total transaction value
Tranches
- Debt Facility · CIBC (left lead arranger), ING Capital, NORD/LB, Santander, Zions Bancorporation
- $482M
- Preferred Equity · Goldman Sachs Alternatives
- $169M
- Tax Credit Transfer Commitment · Corporate purchaser (unnamed)
- $268M
Service Providers
Advisory & Legal
- borrowerCounsel
- Latham & Watkins LLP; Sheppard Mullin
- Lender Counsel
- Norton Rose Fulbright; Allen Matkins
Finance Counterparties
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Leadership at the Counterparties
Recent executive moves at the firms named in this deal.
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