Peregrine Energy, an integrated multi-technology clean-energy platform with a focus on utility-scale energy storage, has signed an agreement with funds managed by AB CarVal to raise more than $700 million of credit, equity and debt to fund Peregrine’s pipeline of more than 7 gigawatts of high-quality projects, including stand-alone battery, solar and wind technologies.
This funding will allow Peregrine to bring its project portfolio, which spans five independent system operators (ISOs) and 10 states, to Commercial Operation Date (COD), 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.
“AB CarVal will provide significant new liquidity for Peregrine to advance our value creation pathways. This capital has the potential to accelerate our pipeline of high-quality renewable and storage projects, taking them to