US portfolio acquisition news from Goldman Sachs-backed BrightNight and Excelsior Capital-backed Lydian, and finance from AXA-backed ILOS Projects in Europe, as reported by our colleagues at PV Tech.
The three independent power producer (IPP) companies have all made moves to progress portfolios that comprise a mix of solar PV and battery energy storage systems (BESS).
BrightNight has acquired a 6GW portfolio of projects previously held under its joint venture (JV) with Canadian asset manager Cordelio Power. 
Under the agreement, BrightNight will assume full ownership and control of the JV’s development portfolio, enabling it to independently advance, finance, construct and operate the projects going forward. 
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The JV was established in 2020 to develop and commercialise 15GW of utility-scale projects. To date, 1.1GW has either reached commercial operation or entered construction. 
The BrightNight–Cordelio Power joint venture will retain four assets, including the 300MW Box Canyon solar project in Arizona, which is already in operation and serving regional load; the 200MW/800MWh Greenwater battery energy storage project in Washington, currently under construction; the Pioneer project in Arizona, comprising 300MW/1,200MWh of solar-plus-storage, also under construction; and the fully contracted Biglow 1 project in Oregon, which includes 125MW of solar alongside 600MWh of battery storage. 
The JV’s operational assets, along with projects currently under construction in the eastern US, will continue to be managed without disruption. 
BrightNight VP Nadim Kanan recently spoke about developing BESS projects for data centres, including AI training campuses, at Energy Storage Summit USA 2026, on a panel that was the subject of an ESN Premium article earlier this week.
It follows IPP Pattern Energy acquiring Cordelio Power at the start of April, although in reality that was effectively an internal restructuring of the assets of pension fund CPP Investments, which already owned both (CPP is majority owner of Pattern Energy, and was the sole owner of Cordelio).
By Shreeyashi Ohja, additional reporting by Cameron Murray.
Read the full version of this story at PV Tech.
Lydian Energy has acquired a 1.5GW solar PV and battery energy storage system (BESS) portfolio in North America.
Consisting of four late-stage projects, the Atlas North portfolio was acquired from developer Hanwha Renewables and comprises over 1GW of solar PV capacity with 450MW/1,800MWh of BESS.
The projects are located in the California Independent System Operator (CAISO) grid and will be connected via the Cielo Azul Switchyard and the Ten West Link transmission line, with a 500kV generation-tie transmission line.
According to the IPP, which was launched in 2024 and is backed by renewable energy investment firm Excelsior Energy Capital, the majority of the electricity and capacity from the Atlas North portfolio is contracted with long-term offtake agreements with Californian utilities.
“Atlas North represents Lydian’s largest investment to date. We are excited to build on our momentum as a firm and bring this ambitious project to life,” said Emre Ersenkal, CEO at Lydian Energy. “The Atlas North facilities will bring much needed renewable power to the region.”
Lydian Energy’s portfolio includes 18 solar PV and energy storage projects totalling 4.4GW of capacity.
By Jonathan Touriño Jacobo.
This story first appeared on PV Tech.
German independent power producer ILOS Projects has upsized its structured credit facility to €450 million (US$530 million) with EIG and La Caisse, as it targets more than 2GW of solar PV and battery energy storage capacity across Europe by 2028. 
ILOS said the expanded financing will support its growth strategy across European markets, including Ireland, the UK, Italy and Germany, where the company is developing solar PV and co-located battery storage projects.   
The new funding builds on an initial €250 million tranche provided by EIG. The loan facility will provide flexible capital for construction equity and the acquisition of ready-to-build renewable assets. 
“The upsizing of this facility reflects the progress the team has made deploying capital under the initial tranche and our continued confidence in ILOS’ strategy, asset base, and management team. This investment is consistent with EIG’s approach seeking to support scalable renewable energy platforms that we believe are well positioned to meet Europe’s growing demand for reliable power infrastructure,” Rob Johnson, managing director of EIG, said. 
Karlsruhe, Germany-headquartered ILOS Projects is focused on large-scale solar PV, with a 4.5GWp portfolio spanning seven markets. The company is backed by BNP Paribas Asset Management Alts, which holds a 60% majority stake, providing long-term capital and sector expertise. 
By Shreeyashi Ohja.
This story first appeared on PV Tech.

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