BrightNight Brings Leading Portfolio of Renewables to Kentucky

Rhea-AI Summary

BrightNight expands its renewable power presence in Kentucky with a long-term power purchase agreement with LG&E and KU. The agreement adds to a growing list of recent agreements signed by BrightNight as it accelerates its portfolio buildout. The project is expected to generate 115 megawatts of power and will help meet the energy demands of LG&E and KU's customers.

Positive

• BrightNight is expanding its renewable power portfolio in Kentucky, which will have an estimated total statewide investment impact of over $400 million dollars.
• The long-term power purchase agreement with LG&E and KU will provide a reliable and cost-effective source of power for their customers.
• The project is expected to be commissioned in 2026, contributing to the company's portfolio buildout.

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• None.

Company building strong renewable power presence and partnerships in the Bluegrass State  

WEST PALM BEACH, Fla., June 1, 2023 /PRNewswire/ -- BrightNight, the next generation and global renewable power producer built to deliver clean and dispatchable solutions, is expanding its horizons in Kentucky. The company currently has an approximately 2,000 MW development portfolio across Kentucky, several projects under advanced development, and continues to develop meaningful partnerships to grow its investment across the Commonwealth.

One of BrightNight's most recent agreements is with Louisville Gas and Electric Company and Kentucky Utilities Company (LG&E and KU) for a long-term 115-megawatt power purchase agreement (PPA). This PPA adds to a growing list of recent agreements signed between BrightNight and its customers, as the company accelerates its portfolio buildout.  

The power from this PPA will be generated by BrightNight's renewable power project to be located in Ballard County, KY, with a targeted 2026 commissioning. The power from the facility will be added to LG&E and KU's generation fleet to help meet their customers' energy demands and to provide customers with safe, reliable power at a reasonable cost.

Building on a Strong Customer and Community Partnership

This PPA is the second signed agreement between BrightNight and LG&E and KU. The two parties signed a PPA for 125 MW in 2021.

"We deeply value our customer relationship with LG&E and KU, and this second project demonstrates our commitment to building strong, long-term partnerships," BrightNight CEO Martin Hermann said. "LG&E and KU are clear leaders in developing multiple sources of energy. We are working together to meet the need for more power in Kentucky, as legacy generating assets are retired and demand grows - and we are doing it in a sustainable way."

Through partnerships like these and sustainable efforts across their business, LG&E and KU continue to demonstrate their commitment to advancing a renewable energy future and empowering their customers and communities to do the same. Along with parent company PPL, the utilities have adopted a goal to reduce CO₂ and other greenhouse gas emissions across their business operations to net zero by 2050 with interim targets of 70% reduction from 2010 levels by 2035 and an 80% reduction by 2040.

"For LG&E and KU, it's about delivering safe, reliable power at a reasonable cost for our customers, and using an increasingly more diverse set of generating assets is among the keys to doing this as we move forward," LG&E and KU Vice President of Energy Supply and Analysis David Sinclair said. "We executed this second PPA with BrightNight because they not only develop innovative renewable projects, but they also listen to what our needs are and deliver innovative solutions," Sinclair said.    

The PPA was referenced in LG&E and KU's current Certificate of Public Convenience and Necessity filing submitted to the Kentucky Public Service Commission in December.

The BrightNight project is located in western Kentucky and has reached several development milestones. BrightNight is exploring agrivoltaic solutions for the project, which is the blending of agriculture and photovoltaic energy generation. These project solutions support local agricultural business in parallel with its energy production.

"We appreciate Ballard County's leadership on the integration of renewable power into their community," Hermann added. "Being a good neighbor is a critical part of our work in bringing these projects to communities across Kentucky. Ballard County has been a collaborative partner helping shape the project that will meet our customer's needs and the community's preferences."

In a letter to the Kentucky State Board on Electric Generation and Transmission Siting, the Ballard Industrial Development Authority wrote, "We look forward to the success of these projects and the benefits they will provide and we [Ballard County] wish to become a leader for renewable energy in the Commonwealth of Kentucky."

BrightNight's Growing Kentucky Presence

With the current portfolio across Kentucky and projects in development, the estimated total statewide investment impact from BrightNight construction of this portfolio is estimated at over $400 million dollars and will generate significant tax revenues for the state and localities. The constructed renewable energy infrastructure will serve as a nexus for economic development. The company is also investing in the communities it will serve, providing educational and emergency assistance programs.

ABOUT BRIGHTNIGHT

BrightNight is the first global renewable integrated power company designed to provide utility and commercial and industrial customers with clean, dispatchable renewable power solutions. BrightNight works with customers across the U.S. and Asia Pacific to design, develop, and operate safe, reliable, large-scale renewable power projects optimized to better manage the intermittent nature of renewable energy. Its deep customer engagement process, team of proven power experts, and industry-leading solutions enable customers to overcome challenging energy sustainability standards, rapidly changing grid dynamics, and the transition away from fossil fuel generation. To learn more, visit: www.brightnightpower.com

About LG&E AND KU

Louisville Gas and Electric Company and Kentucky Utilities Company, part of the PPL Corporation (NYSE: PPL) family of companies, are regulated utilities that serve more than 1.3 million customers and have consistently ranked among the best companies for customer service in the United States. LG&E serves 334,000 natural gas and 433,000 electric customers in Louisville and 16 surrounding counties. KU serves 569,000 customers in 77 Kentucky counties and five counties in Virginia. More information is available at www.lge-ku.com and www.pplweb.com.

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SOURCE BrightNight

FAQ

What is BrightNight's recent agreement with LG&E and KU?

BrightNight has signed a long-term power purchase agreement with LG&E and KU for a renewable power project in Kentucky.

What is the expected capacity of the project?

The project is expected to generate 115 megawatts of power.

When will the project be commissioned?

The project is targeted to be commissioned in 2026.

What is the estimated investment impact of BrightNight's portfolio in Kentucky?

The estimated total statewide investment impact is over $400 million dollars.

What are the goals of LG&E and KU in terms of reducing emissions?

LG&E and KU have adopted a goal to reduce CO2 and other greenhouse gas emissions to net zero by 2050 with interim targets of 70% reduction by 2035 and 80% reduction by 2040.