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BHI, the U.S. branch of Bank Hapoalim, has teamed up with its parent company, Bank Hapoalim B.M., to announce a new partnership. Together, they are providing a $25 million loan to BrightNight, a renewable energy company. This financing will help BrightNight deliver clean, reliable renewable power solutions to utility providers, as well as commercial and industrial customers.
Gal Defes, First Senior Vice President, Head of International C&I, High Tech and Corporate Banking Services at BHI, said that, “The growing renewable energy sector is becoming a cornerstone of our global economy, and through BHI’s commitment to financing these developments, we’re investing in how this sector can build a more innovative and sustainable world for generations to come. The volume and velocity of demand we’ve seen across this sector is exciting and we’re eager to continue deploying capital that can help construct a brighter future.”
Brian Boland, BrightNight CFO, mentioned, “BHI and Bank Hapoalim are experienced and accessible partners who are passionate about financing compelling developments in this sector that help accelerate the scale and adoption of renewable energy projects aimed at impacting and improving our society.”
BrightNight, founded in 2019 by Martin Hermann, the creator of 8minuteenergy, is backed by prominent investors like Goldman Sachs Alternatives and Global Infrastructure Partners. The company specializes in developing, owning, and managing BESS (Battery Energy Storage Systems), PV Solar, and hybrid power plants.
BrightNight’s portfolio includes projects at various stages of development, with over 31.1 GW in the U.S. and 5.6 GW in the APAC region. BrightNight focuses on securing blue-chip customers in high-growth markets, especially in regions of the United States with increasing energy demand, such as Arizona, Washington, Colorado, Kentucky, Illinois, Utah, Oregon, and Indiana. |
