Bloom Energy announces project funding partnership with HPS Investment Partners

Bloom’s growth has accelerated alongside increasing demand for reliable and rapidly deployable energy solutions needed to support data centres, new manufacturing plants and other industrial facilities. The partnership with HPS and IDF provides Bloom with new sources of debt and equity capital to create special purpose project companies that can sell electricity to customers. For HPS and IDF, the partnership expands opportunities to invest in the energy transition underway around the world, one that demands new technologies that can meet the needs for time-to-power and non-combustion sources of reliable power supply.

“Bloom Energy is excited to launch this long-term partnership with HPS and IDF, two experienced and innovative companies when it comes to funding the rapidly changing energy transition,” said Aman Joshi, Bloom Energy’s Chief Commercial Officer. “With growing demand for shorter contract lengths and larger-scale projects, this partnership enhances Bloom’s ability to provide financed solutions that address customers’ power supply and reliability needs without impacting their capital budgets.”

“Bloom’s technology provides a proven solution to the challenges customers are facing with the US grid today and offers a unique opportunity to invest in this fast-growing market,” said Michael Dorenfeld, Managing Director for HPS Investment Partners. “We’re pleased to be partnering with IDF and Bloom on this portfolio, and to mark the beginnings of a successful long-term partnership.”

“With the rapid growth of the global demand for electric power, this is an ideal time for us to partner with Bloom Energy,” said Nik Nunes, CEO of Industrial Development Funding. “We view this portfolio as the first step in a larger project funding relationship.”

Read the article online at: https://www.globalhydrogenreview.com/hydrogen/11122024/bloom-energy-announces-project-funding-partnership-with-hps-investment-partners/