Peregrine Energy Secures $317m Financing Package for ERCOT Projects
Last Updated: Nov 2025
Peregrine Energy Solutions is a Boulder, Colorado–based developer focused on utility‑scale battery storage, established in 2022 and backed by institutional capital.
The company has built financing relationships through a series of raises, including a $53 million preferred equity commitment from Bildmore and a $115 million bridge facility in March 2025, plus $130 million of new capital in October 2025.
Earlier, Peregrine secured up to $250 million in debt capacity from insurance accounts managed by KKR (Oct 2024) and finalized a $700 million credit/equity/debt agreement with AB CarVal (Aug 2023) to advance a multi‑gigawatt pipeline.
Trade coverage in March 2025 also detailed a 150 MW Texas BESS targeting completion in late 2025, illustrating the firm’s shift from pipeline growth to construction and operations.
Peregrine Energy Solutions announced it secured financing to support a $317 million utility-scale battery energy storage project that is currently under construction.
The package includes preferred equity from Bildmore Clean Energy and debt arranged by a club of lenders led by First Citizens Bank and Société Générale, with Siemens Financial Services as joint lead arranger and East West Bank participating.
Company executives framed the deal as Peregrine’s second project financing in 2025, underscoring momentum across its development pipeline.
Peregrine highlighted that it was founded in 2022 and has originated roughly 15 GWh of storage across multiple U.S. power markets.
The project is referenced as part of two Peregrine BESS builds underway in Texas, pointing to near‑term additions in ERCOT.
Leaders from Bildmore and the lending group emphasized the role of innovative capital structures in expanding grid‑scale storage.
Peregrine Energy Solutions is a Boulder, Colorado–based developer focused on utility‑scale battery storage, established in 2022 and backed by institutional capital.
The company has built financing relationships through a series of raises, including a $53 million preferred equity commitment from Bildmore and a $115 million bridge facility in March 2025, plus $130 million of new capital in October 2025.
Earlier, Peregrine secured up to $250 million in debt capacity from insurance accounts managed by KKR (Oct 2024) and finalized a $700 million credit/equity/debt agreement with AB CarVal (Aug 2023) to advance a multi‑gigawatt pipeline.
Trade coverage in March 2025 also detailed a 150 MW Texas BESS targeting completion in late 2025, illustrating the firm’s shift from pipeline growth to construction and operations.
Peregrine Energy Solutions announced it secured financing to support a $317 million utility-scale battery energy storage project that is currently under construction.
The package includes preferred equity from Bildmore Clean Energy and debt arranged by a club of lenders led by First Citizens Bank and Société Générale, with Siemens Financial Services as joint lead arranger and East West Bank participating.
Company executives framed the deal as Peregrine’s second project financing in 2025, underscoring momentum across its development pipeline.
Peregrine highlighted that it was founded in 2022 and has originated roughly 15 GWh of storage across multiple U.S. power markets.
The project is referenced as part of two Peregrine BESS builds underway in Texas, pointing to near‑term additions in ERCOT.
Leaders from Bildmore and the lending group emphasized the role of innovative capital structures in expanding grid‑scale storage.
Peregrine Energy Solutions is a Boulder, Colorado–based developer focused on utility‑scale battery storage, established in 2022 and backed by institutional capital.
The company has built financing relationships through a series of raises, including a $53 million preferred equity commitment from Bildmore and a $115 million bridge facility in March 2025, plus $130 million of new capital in October 2025.
Earlier, Peregrine secured up to $250 million in debt capacity from insurance accounts managed by KKR (Oct 2024) and finalized a $700 million credit/equity/debt agreement with AB CarVal (Aug 2023) to advance a multi‑gigawatt pipeline.
Trade coverage in March 2025 also detailed a 150 MW Texas BESS targeting completion in late 2025, illustrating the firm’s shift from pipeline growth to construction and operations.
Peregrine Energy Solutions announced it secured financing to support a $317 million utility-scale battery energy storage project that is currently under construction.
The package includes preferred equity from Bildmore Clean Energy and debt arranged by a club of lenders led by First Citizens Bank and Société Générale, with Siemens Financial Services as joint lead arranger and East West Bank participating.
Company executives framed the deal as Peregrine’s second project financing in 2025, underscoring momentum across its development pipeline.
Peregrine highlighted that it was founded in 2022 and has originated roughly 15 GWh of storage across multiple U.S. power markets.
The project is referenced as part of two Peregrine BESS builds underway in Texas, pointing to near‑term additions in ERCOT.
Leaders from Bildmore and the lending group emphasized the role of innovative capital structures in expanding grid‑scale storage.
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