– Lightshift has 20 BESS projects contracted, with a pipeline of over 4,000MW mainly in the Northeastern and Southeastern US
– MN8 Energy secured $325 million through a private placement, with $200 million from Mercuria Energy Group and $125 million from Ridgewood Infrastructure
– MN8 Energy has 3.2GW of solar PV projects in 28 states, a focus on C&I customers, and 270MW of battery storage projects, with a stake in a 200MW California project
Lightshift has 20 battery energy storage system projects contracted to-date with a total pipeline of over 4,000MW, primarily deploying projects in the 3-20MW range in the Northeastern and Southeastern US regions. The company recently announced four projects for Massachussetts municipal utilities and had previously completed a 10.5MW/24.5MWh system in Virginia.
In Massachusetts, there is a market opportunity for attaching BESS to community solar projects, driven by the state’s SMART program. Other developers active in the area include Agilitas Energy and BlueWave. Greenbacker previously invested $20 million in Lightshift/Delorean in 2021.
MN8 Energy, a solar and storage developer, secured $325 million through a private placement, with $200 million from Mercuria Energy Group and $125 million from Ridgewood Infrastructure. MN8 plans to use this investment to scale their growth, provide innovative solutions, and enhance value for shareholders. The company, originally founded within Goldman Sachs as Goldman Sachs Renewable Power in 2017, now operates independently with around 100 employees.
MN8 Energy has a diverse portfolio of solar PV projects totaling 3.2GW across 28 states, with an average project size of 3MW. The company serves enterprise customers and has a focus on commercial and industrial (C&I) segments, as well as grid-scale projects. MN8 also has 270MW of battery storage projects and offers EV charging solutions.