BrightNight and Cordelio secure $400m for Greenwater battery project to boost Washington’s clean energy grid

BrightNight and Cordelio Power have closed financing on the Greenwater Energy Storage Project, a 200 megawatt / 800 megawatt-hour battery energy storage system located in Pierce County, Washington. The project will serve Puget Sound Energy by delivering grid services and firm capacity, supporting the Pacific Northwest’s transition to a more reliable and renewable-powered electricity system. Backed by nearly $400 million in financing from a syndicate of leading North American banks, Greenwater is now set to move into full-scale construction and commissioning, with commercial operation expected in 2026.

How will Greenwater enhance grid stability and clean energy integration in Washington?

The Greenwater project is being positioned as a flagship utility-scale battery energy storage system for the region, supporting grid modernization, clean energy reliability, and long-duration capacity delivery. Located near the White River Substation, the facility will operate using lithium-ion technology and connect via a short tie line, allowing it to quickly dispatch power during peak demand events or grid instability.

BrightNight Chief Executive Officer Martin Hermann said the project underscores the importance of combining digital infrastructure and energy storage to create resilient power solutions. He noted that BrightNight’s PowerAlpha platform, an artificial intelligence-based energy optimization tool, will be instrumental in ensuring Greenwater operates with best-in-class efficiency, performance, and uptime.

Chris Hind, Chief Executive Officer of Cordelio Power, added that the project is a tangible example of battery storage enabling renewable integration and helping utilities like Puget Sound Energy meet both decarbonization targets and reliability goals. Craig Pospisil, Vice President of Business Development and M&A at Puget Sound Energy, emphasized that battery projects like Greenwater are essential to aligning intermittent clean energy generation with fluctuating customer demand.

By absorbing and discharging power based on grid needs, the project is expected to support both regional decarbonization objectives and capacity adequacy standards without the emissions footprint of thermal peaking assets.

Which institutions are backing Greenwater’s financing—and what does it reveal about investor confidence?

The $400 million financing package for Greenwater includes participation from several major financial institutions: 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. This financing milestone marks the first jointly held BrightNight and Cordelio Power asset in the Pacific Northwest to reach financial close, a milestone that may pave the way for more collaboration between the two infrastructure players in this region.

The size and composition of the lender syndicate reflects growing investor appetite for utility-scale storage projects, particularly those with contracted offtake, clean energy alignment, and strong community backing. With interest rates still elevated and financing markets cautious, the successful close on a nine-figure battery storage project signals that energy storage is maturing into a mainstream asset class for infrastructure funds and banks.

This deal also strengthens BrightNight’s project execution credentials, especially as it continues to expand across high-growth energy markets and digital infrastructure corridors. Cordelio Power’s backing by Canada Pension Plan Investment Board also adds institutional credibility, reinforcing the view that long-term capital is moving toward clean energy infrastructure assets with scalable, replicable models.

How does the Greenwater project align with BrightNight and Cordelio’s broader development pipelines?

BrightNight’s development strategy centers around multi-use energy and infrastructure hubs that combine renewables, advanced gas, storage, and digital optimization. The firm has a 35 gigawatt portfolio of projects across the United States, with over 1 gigawatt in active construction or operations and plans to add 2 gigawatts in 2026 alone.

A core component of BrightNight’s model is its PowerAlpha platform, which uses artificial intelligence to optimize energy performance across project lifecycles—from development and engineering to grid interconnection and asset management. This software-first approach is seen as key to unlocking superior project economics and flexible capacity delivery across diverse customer types, including utilities, data centers, and large commercial or industrial clients.

Cordelio Power, which operates 1,860 megawatts of wind, solar, and storage across North America, is aggressively scaling its U.S. development pipeline. With more than 18,000 megawatts in the pipeline, the developer is focused on projects that offer a combination of environmental responsibility, grid flexibility, and commercial resilience.

Both BrightNight and Cordelio are positioning themselves to serve as vertically integrated energy partners for utilities undergoing large-scale grid transformation. With regional clean energy mandates tightening and electrification accelerating, battery storage projects like Greenwater are seen as foundational tools for next-generation capacity planning.

What design and environmental strategies are embedded in Greenwater’s development?

The Greenwater Energy Storage Project has been designed to minimize environmental disruption and maximize operational safety. The lithium-ion battery system does not require water for operations, aligning with Washington’s environmental and resource sustainability goals.

The developers have emphasized a low-impact siting plan, limited onsite traffic during both construction and operation, and a robust emergency management and safety protocol. Upon eventual decommissioning, the project site is expected to be restored, further reinforcing its environmental stewardship credentials.

Stakeholder engagement has also been central to the project’s development timeline. BrightNight and Cordelio Power have stated their commitment to working closely with local communities and landowners throughout the lifecycle of the project. This community-first approach is likely to be an increasingly important factor in obtaining and sustaining public support for large energy infrastructure installations.

What is the projected timeline for construction and operations?

With financial close achieved, Greenwater now moves into full execution mode. Development activities are underway, and construction is expected to progress throughout 2025. The project is on track to be fully commissioned and operational by 2026, aligning with Puget Sound Energy’s resource planning horizon and regional clean energy compliance mandates.

Once operational, Greenwater is expected to provide flexible, dispatchable capacity, help meet peak demand, and enable higher penetrations of wind and solar energy on the regional grid. It may also become a reference project for utilities and grid operators seeking to understand how modern energy storage systems can deliver reliability without fossil fuel reliance.

For BrightNight and Cordelio Power, successful deployment of Greenwater could strengthen their respective positions in upcoming grid-scale storage procurements across the United States.

What are the key takeaways from the BrightNight and Cordelio Greenwater project milestone?

• BrightNight and Cordelio Power have secured nearly $400 million in financing for the Greenwater Energy Storage Project, a 200 MW / 800 MWh lithium-ion battery facility in Pierce County, Washington.

• The project will deliver firm capacity and grid-balancing services to Puget Sound Energy, enhancing reliability and renewable integration across the Pacific Northwest.

• Greenwater marks the first jointly held Pacific Northwest asset between BrightNight and Cordelio to reach financial close, highlighting growing collaboration in battery infrastructure.

• Financial partners include Royal Bank of Canada, Credit Agricole CIB, CoBank ACB, National Bank of Canada, Desjardins, and Zions Bancorporation, signaling strong institutional support for grid-scale battery storage.

• The facility connects to the grid via the White River Substation and will be managed by BrightNight’s proprietary AI-powered PowerAlpha platform.

• The project design emphasizes environmental stewardship, with no operational water use, minimal onsite traffic, and a comprehensive safety and decommissioning plan.

• BrightNight is scaling a 35 GW U.S. portfolio with 2 GW of additions planned in 2026, while Cordelio manages a development pipeline of over 18 GW.

• Construction and commissioning are underway, with full commercial operation expected by 2026 in line with Puget Sound Energy’s clean energy transformation goals.