Global Infrastructure Partners (GIP) and its coinvestors have invested $500 million in independent power producer (IPP) and renewable-power company BrightNight.
BrightNight aims to provide next-generation power solutions by combining multiple renewable technologies, enabling its customers to accomplish deeper decarbonization of their generation portfolio.
GIP said it is investing in the company through its Global Infrastructure Partners Capital Solutions Fund II (GIP CAPS II), part of its credit platform, GIP Credit. GIP CAPS II makes debt and non-common equity investments in midstream energy, power, renewables and transport assets, primarily in OECD countries.
This represents the fourth commitment made by GIP CAPS II.