BrightNight–Cordelio Power JV portfolio buyout — 6 GW of development-stage solar + BESS projects across Western US transferred to BrightNight (out of original 15 GW JV); JV retains 4 assets — Box Canyon (300 MW solar, AZ, operating), Greenwater (200 MW / 800 MWh BESS, WA, construction), Pioneer (300 MW solar + 300 MW / 1,200 MWh BESS, AZ, construction), Biglow 1 (125 MW solar + 125 MW / 600 MWh BESS, fully contracted)

BrightNight acquires Cordelio Power's joint-venture interest, taking sole ownership of 6 GW of Western US development-stage solar + BESS projects. The JV (formed 2020) developed 15 GW total; 1.1 GW reached operations or construction. Four projects remain in JV: Box Canyon, Greenwater, Pioneer, Biglow 1. Transaction lets BrightNight independently advance, finance, construct, and operate the transferred portfolio going forward. Cordelio Power is owned by CPP Investments (Canada Pension Plan).

Deal Details

Deal Type

Joint Venture Buyout

Seller / Sponsor

Cordelio Power

Buyer / Financier

BrightNight

Stage

Development

ISO/RTO

WECC

Source

PR Newswire / BrightNight