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					</table><p>United States-based Peregrine Energy Solutions (<a href="https://www.peregrineenergysolutions.com/" target="_blank" rel="noopener">Peregrine</a>), a clean energy platform with a strategic focus on utility-scale energy storage, has announced a partnership with <a href="https://carvalinvestors.com/" target="_blank" rel="noopener">AB CarVal</a>, a global alternative investment manager, to raise more than $700 million in credit, equity, and debt financing.</p>
<p>The funding will be directed toward Peregrine&#8217;s substantial pipeline of projects, encompassing over 7 GW of technologies, including standalone battery, solar, and wind systems.</p>
<p>The company said its agreement with AB CarVal will help bring its diverse portfolio of projects to commercial operation. It will also help enhance grid stability, facilitate seamless integration of renewable resources, and develop structured energy solutions.</p>
<p>Hagen Lee, the founder and CEO of Peregrine, said, &#8220;AB CarVal&#8217;s commitment to providing substantial liquidity for Peregrine marks a crucial turning point in our journey of value creation. This capital injection holds the potential to expedite the development of our remarkable portfolio of renewable and storage projects, ensuring their successful operation and optimization.&#8221;</p>
<p>The collaboration between Peregrine&#8217;s experienced team and AB CarVal&#8217;s expertise is anticipated to result in a diverse set of storage and renewable assets.</p>
<p>Jody Gunderson, Managing Principal at AB CarVal, highlighted the strategic significance of the partnership, stating, &#8220;In the midst of this monumental energy transition, the demand for renewables and storage solutions is projected to surge. We firmly believe that Peregrine, with its technological prowess and market positioning, is primed to deliver top-tier assets and technologies to meet this escalating demand.&#8221;</p>
<p>Peregrine Energy Solutions specializes in sourcing, developing, constructing, and managing standalone battery energy storage and renewable energy assets across North America.</p>
<p>In January, AB CarVal and Nomura funded renewable energy company Enfinity Global to <a href="https://www.mercomindia.com/enfinity-global-acquires-400-mw-of-projects-in-the-us" target="_blank" rel="noopener">acquire</a> a 400 MW operational utility-scale solar portfolio to expand the company’s reach in the U.S.</p>
<p>According to Mercom Capital Group’s <a href="https://mercomcapital.com/product/1h-q2-2023-funding-ma-report-storage-grid/" target="_blank" rel="noopener">1H and Q2 2023 Funding and M&amp;A Report Storage and Grid Report</a>, in the first half of 2023, corporate funding for energy storage companies reached $7.1 billion across 59 deals.</p>


Peregrine Secures $700 Million for Clean Energy Expansion in US

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