BrightNight, a next-generation power and digital infrastructure company, and its joint venture partner, Cordelio Power, announced the successful financial close of the Greenwater Energy Storage Project on December 3, 2025. The 200-megawatt (MW) / 800-megawatt-hour (MWh) battery energy storage system (BESS) is located in Pierce County, Washington, and will provide firm capacity and grid services to Puget Sound Energy (PSE).

The project represents a significant milestone for grid modernization in the Pacific Northwest, with total project financing approaching USD 400 million from leading financial institutions, 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.

Project Design and Grid Integration

The Greenwater project is a lithium-ion battery energy storage system that will connect to the grid via a short tie line to the existing White River Substation. The system is designed to deliver reliable and flexible capacity to enhance grid stability and support renewable integration across the region. The project will strengthen regional reliability and support Washington's clean energy transition by providing firm capacity and grid services to PSE.

The battery storage system minimizes environmental impact and requires no operational water during operations. The project's design emphasizes low-impact siting, minimal on-site traffic, and includes plans for the site's restoration upon decommissioning. Greenwater has been recognized for its comprehensive emergency management and safety plan.

Executive Leadership Perspectives

Martin Hermann, CEO of BrightNight, described the project as “a major step forward for modernizing and hardening the grid in the Pacific Northwest.” Hermann emphasized that the project demonstrates how storage, digital innovation, and trusted partnerships can deliver dependable clean energy at scale. He highlighted BrightNight's proprietary PowerAlpha platform and integrated development-to-operation capabilities as key factors in delivering best-in-class storage solutions.

Chris Hind, CEO of Cordelio Power, characterized Greenwater as “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.” Hind noted that the project highlights the critical role that battery storage plays in enabling renewable integration across the Pacific Northwest.

Craig Pospisil, VP of Business Development and M&A at Puget Sound Energy, explained that battery storage projects like Greenwater help the utility harness renewable energy and meet clean energy goals while helping to meet peak demand. Pospisil described this capability as critical to how PSE serves its customers now and in the future.

Development Timeline and Community Engagement

This marks BrightNight and Cordelio's first jointly held Pacific Northwest asset to achieve a financial close milestone. With financing now secured, the project moves into full-scale development and execution phases. Development activities are currently underway, and construction and commissioning are scheduled to align with the project's targeted commercial operation date in 2026.

Both BrightNight and Cordelio have committed to engaging proactively with local communities, landowners, and stakeholders throughout the Greenwater development process. The companies emphasize their commitment to working with all stakeholders in an efficient, safe, and environmentally responsible manner.

Company Portfolios and Market Position

BrightNight operates a 35 GW portfolio of power projects concentrated in the fastest-growing energy markets and data center hubs across the United States. The company currently has 1+ GW in construction and/or operations and is on track to add 2GWs in 2026. 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.

Cordelio Power is an independent power producer that develops, builds and operates wind, energy storage and solar facilities. The company manages a 1,860 MW operating portfolio across the United States and Canada and maintains a US development growth pipeline of over 18,000 MW. Canada Pension Plan Investment Board wholly owns Cordelio.

Puget Sound Energy is Washington state's largest utility, serving approximately 1.2 million electric customers and 900,000 natural gas customers across 10 Washington counties. The utility is undergoing what it describes as the most significant transformation in its history as it works to meet some of the nation's most ambitious clean energy laws while maintaining safe and reliable energy delivery.

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