Bloom Energy announces $125M project financing partnership with HPS and IDF

Bloom Energy (BE) announced that it has formed a project financing partnership with certain funds managed by HPS Investment Partners HPS and Industrial Development Funding IDF , two leading global providers of infrastructure capital. As part of the agreement, HPS and IDF will acquire 19 MW of Bloom’s Energy Servers, including several advanced on-site microgrid solutions. The approximately $125 M in funding will support the installation of Bloom equipment contracted under PPA structures, which can deliver clean, on-site and highly reliable power to commercial and industrial customers at zero upfront cost. ..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.” …”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.”