BrightNight Acquires Cordelio Power's Joint Venture Interest, Adds 6 GW to its Independently Controlled Project Portfolio

WEST PALM BEACH, Fla., April 21, 2026 /PRNewswire/ -- BrightNight today announced that it has acquired Cordelio Power's ownership interest in projects previously held in the joint venture.

Under the terms of the agreement, BrightNight will assume full ownership and control of 6 GW of projects from the joint venture's development portfolio. The transaction positions BrightNight to independently advance, finance, construct, and operate its projects going forward and reflects the company's long-term strategic focus and its commitment to customers in the West.

Under the joint venture, established in 2020, BrightNight and Cordelio Power had partnered to develop and commercialize large-scale power projects totaling 15 gigawatts of resources across key western markets. To date, the joint venture has brought 1.1 gigawatts into operations or construction. The acquisition of Cordelio's ownership interests, combined with the recent closing of an $850 million corporate credit facility, underscores BrightNight's strong financial position and the strategic role of M&A in driving its growth.

"As we bring our joint venture to a close, we thank the Cordelio team for their years of collaboration and partnership," said Martin Hermann, Chief Executive Officer of BrightNight. "We are excited to leverage the success of this partnership across the West. We are now positioned to continue as a leader in the dispatchable clean energy space, both with our integrated solar and storage projects and our Energeist™ hybrid power systems to reliably connect large loads to the grid."

"This 6 GW transaction is one of the largest in the last 12 months and enhances BrightNight's Western Interconnection presence, which includes active projects in Arizona, Oregon, Washington, Utah, California, Colorado and Wyoming", said Patrick Smith, VP Business Development and M&A. "BrightNight continues to grow through acquisitions like this one and delivering its own projects into operations. It also reinforces the company's strategy of developing and operating large-scale energy infrastructure sites that serve utilities, commercial and industrial customers in the fastest-growing energy markets in the United States."

"We are dedicated to helping our customers achieve their goals of affordability and reliability by delivering projects that maximize customer benefits and enable communities and businesses to grow and thrive," said Stefan Bird, President of BrightNight. "This transaction strengthens our ability to continue to meet our customers' needs across the West with projects that are well positioned to deliver sustainable solutions in congested, rapidly growing energy markets."

The BrightNight-Cordelio Power joint venture will retain four project-level assets: Box Canyon (300 MW solar) in operation serving regional load in Arizona, Greenwater (200 MW / 800 MWh battery energy storage) in construction in Washington, Pioneer (300 MW solar + 300 MW / 1,200 MWh BESS) in construction in Arizona, and Biglow 1 (125 MW solar + 125 MW / 600 MWh BESS) fully contracted.

BrightNight and Cordelio remain committed to delivering these projects on schedule and in alignment with existing contractual obligations. The company's operational assets and other projects currently under construction in the eastern U.S. will continue to be managed without disruption. The decoupling does not impact project-level agreements with customers, utilities, contractors, or financing partners.

ABOUT BRIGHTNIGHT

BrightNight is a next-generation power and digital infrastructure company, purpose-built to serve the evolving needs of utilities, commercial and industrial (C&I) customers.

BrightNight designs, develops, and operates large-scale energy and infrastructure sites that integrate utility-scale renewables, advanced gas generation, battery energy storage, and power-optimized hubs for digital infrastructure. BrightNight's industry-leading 30 GW portfolio of best-in-class power projects is concentrated in the fastest-growing energy markets and data center hubs across the U.S.

BrightNight's customer focus, industry-leading team of talent, and proprietary AI platform – PowerAlpha® – enable it to deliver best-in-class economics, performance, and uptime.

To learn more, visit www.brightnightpower.com

Forward Looking Statements & Information

Certain information contained in this news release constitutes forward looking information or forward looking statements (collectively, forward looking statements). All statements other than statements of historical fact are forward looking statements. Forward looking statements typically contain words such as anticipate, believe, confirms, continuous, estimate, expect, may, plan, project, should, will, offers, or similar words suggesting future outcomes, and include, without limitation, all financial projections, estimates of future costs, and projected performance or results. Forward looking statements by their nature are subject to risks, assumptions and uncertainties which may cause the actual outcomes of such events to differ from BrightNight's expectation as of the date hereof. Whether forward looking statements ultimately prove to be accurate will depend on factors outside of the control of BrightNight. Readers are encouraged to undertake their own analysis and investigation as to the reasonableness of any such forward looking statements. Forward looking statements contained in this news release are made as at the date of this news release and BrightNight disclaims any intent or obligation to update or to revise any of the included forward looking statements.

SOURCE BrightNight