$400M Battery Storage Project Reaches Financial Close in Washington
BrightNight and joint venture partner Cordelio Power have reached financial close on the Greenwater Energy Storage Project, a 200 MW / 800 MWh battery energy storage system (BESS) in Pierce County, Washington, serving the Seattle-Tacoma region.
The $400 million project will provide firm capacity and grid services to Puget Sound Energy (PSE), which serves 1.2 million customers. It will connect to the grid via the White River Substation, targeting commercial operation in 2026.
Project financing includes major lenders such as Royal Bank of Canada, Credit Agricole CIB, CoBank, ACB, National Bank of Canada, Fédération des caisses Desjardins du Québec, and Zions Bancorporation.
The project is designed to minimize environmental impact, require no operational water, and support regional clean energy and resource adequacy goals.
Martin Hermann, CEO of BrightNight, highlighted the company’s PowerAlpha platform, which uses AI, data, and cloud computing to design, optimize, and operate the facility efficiently. “Greenwater represents a major step forward for modernizing and hardening the grid in the Pacific Northwest,” Hermann said.
Craig Pospisil, VP of Business Development at Puget Sound Energy, noted that battery storage projects like Greenwater are critical for harnessing renewable energy, meeting peak demand, and achieving clean energy targets for customers now and in the future.
Source: ess-news.com
