Peregrine Energy Solutions LLC has secured a credit facility of up to USD 250 million from insurance accounts managed by KKR & Co.
The financing will support the development of Peregrine's renewable energy projects across the U.S., providing capital for equipment, interconnection, and offtake credit security.
Peregrine, launched in April 2022, focuses on utility-scale energy storage and was formed through a partnership between Peregrine Energy Management and Castlelake LP.
Its portfolio includes 37 projects across 11 states and five independent system operators (ISOs), with a development pipeline of 22 GWh of energy storage capacity.
In 2023, Peregrine also secured over USD 700 million in credit, equity, and debt from AB CarVal to further fund its clean energy initiatives.
