BrightNight and Cordelio Power Announce Financial Close on Greenwater: 200 MW / 800 MWh Battery Energy Storage System in Pierce County, Washington

WEST PALM BEACH, Fla., Dec. 3, 2025 /PRNewswire/ -- BrightNight, a next-generation power and digital infrastructure company, together with its joint venture partner, Cordelio Power, announced the successful financial close of its Greenwater Energy Storage Project (Greenwater), a 200 megawatt (MW) / 800 megawatt-hour (MWh) battery energy storage system (BESS) located in Pierce County, Washington. The project will provide firm capacity and grid services to Puget Sound Energy (PSE), strengthening regional reliability and supporting Washington's clean energy transition.

"Greenwater represents a major step forward for modernizing and hardening the grid in the Pacific Northwest. This project demonstrates how storage, digital innovation, and trusted partnerships can deliver dependable clean energy at scale." said Martin Hermann, CEO of BrightNight. "With our proprietary PowerAlpha platform, integrated development-to-operation capabilities, and a growing pipeline in the Pacific Northwest, we are delivering best-in-class storage solutions that meet the grid's evolving demands with efficiency and scale."

"Greenwater is a strong example of how BrightNight and Cordelio Power are partnering to advance reliable, clean energy solutions that strengthen the grid and support the transition to a low-carbon future," said Chris Hind, CEO of Cordelio Power. "This project highlights the critical role that battery storage plays in enabling renewable integration across the Pacific Northwest."

"Battery storage projects like Greenwater help us harness renewable energy and meet our clean energy goals while helping to meet peak demand. This is critical to how we serve our customers now and in the future," said Craig Pospisil, VP of Business Development and M&A at Puget Sound Energy.

With total project financing approaching $400 MM from leading banks including Royal Bank of Canada, Credit Agricole Corporate and Investment Bank, CoBank, ACB, National Bank of Canada, Fédération des caisses Desjardins du Québec, and Zions Bancorporation, N.A., Greenwater now moves into full-scale development and execution. This is BrightNight and Cordelio's first jointly-held Pacific Northwest asset to achieve this milestone.

The Greenwater project is a lithium-ion battery energy storage system connecting to the grid via short tie line to the existing White River Substation intended to deliver reliable and flexible capacity to enhance grid stability and support renewable integration. The project minimizes environmental impact, requires no operational water, and aligns with regional clean energy and resource adequacy goals.

BrightNight and Cordelio are committed to engaging proactively with local communities, landowners, and stakeholders throughout the Greenwater development process. Greenwater has been recognized for its comprehensive emergency management and safety plan, while the project's design emphasizes low-impact siting, minimal onsite traffic, and restoration of the site upon decommissioning.

Development activities are underway, and construction and commissioning are scheduled to align with the project's targeted commercial operation date in 2026.

ABOUT BRIGHTNIGHT
BrightNight is a next-generation power and digital infrastructure company purpose-built to serve the evolving needs of utilities, data centers, and 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 35 GW portfolio of best-in-class power projects is concentrated in the fastest-growing energy markets and data center hubs across the U.S. 1+ GW is in construction and/or operations and we are on track to add 2GWs in 2026. BrightNight's customer focus and proprietary AI platform, PowerAlpha, enable it to deliver industry-leading economics, performance, and uptime. To learn more, visit www.brightnightpower.com.

ABOUT CORDELIO POWER
Cordelio is an independent power producer that develops, builds and operates wind, energy storage and solar facilities. Cordelio manages a 1,860 MW operating portfolio across the United States and Canada and a US development growth pipeline of over 18,000 MW of projects. We strive to work with all of our stakeholders in an efficient, safe, and environmentally responsible manner. Cordelio is wholly owned by Canada Pension Plan Investment Board.

ABOUT PUGET SOUND ENERGY
Puget Sound Energy is proud to serve our neighbors and communities in 10 Washington counties.
We're the state's largest utility, supporting approximately 1.2 million electric customers and 900,000 natural gas customers.
We're undergoing the most significant transformation in our history as we strive to meet some of the most ambitious clean energy laws in the nation, while delivering on our customers' expectations for safe and reliable energy.

For more about us and what we do, visit pse.com. Also follow us on Facebook and X. 

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", 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 and Cordelio'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 and Cordelio. 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 and Cordelio disclaim any intent or obligation to update or to revise any of the included forward-looking statements.

SOURCE BrightNight