BrightNight Announces Financial Close for Frontier, a 120 MW Solar Project Delivering Clean Power to Kentucky

Frontier is advancing on schedule, with Commercial Operation expected by fall of 2027. Reaching financial close marks the successful conversion of years of development, engineering, commercial structuring, and pre-construction investment into a fully financed infrastructure asset moving into construction.

The project, which was approved by the Kentucky Public Service Commission in 2023 as part of LG&E and KU's Certificate of Public Convenience and Necessity (CPCN) filing, represents continued execution across BrightNight's growing U.S. portfolio, which includes more than 30 GW of power projects concentrated in the nation's fastest-growing energy markets. Frontier joins a series of recently advanced projects as proof of BrightNight's ability to originate, develop, and finance complex, multi-stakeholder energy infrastructure at scale.

Project financing was provided by a consortium of leading banks including ING Capital LLC, Natixis Corporate & Investment Banking, and HSBC. The successful close reflects strong capital market confidence in BrightNight's disciplined development approach, integrated project design, and focus on long-term asset performance.

"Frontier demonstrates the strong demand for BrightNight's cost-effective power solutions for Kentucky and across the United States," said Martin Hermann, CEO of BrightNight. "This milestone reflects not only the strength of this project, but also our ability to consistently bring complex projects from concept to fully financed reality. We are proud to partner with LG&E and KU on a project that will deliver long-term value, operational excellence, and a meaningful contribution to the region's growing energy needs."

"It's an exciting time in Kentucky where we're experiencing unprecedented economic growth opportunities, creating more jobs and tax incentives for the communities we're proud to serve, and powering that growth, we're proud to operate one of the most reliable generation fleets in the nation," said John R. Crockett III, President for LG&E and KU. "Our partnership with BrightNight on the Frontier project is an important step in advancing additional renewable energy resources in our generation portfolio while maintaining affordable rates and reliable service our customers expect."

With financing secured, BrightNight will continue to advance Frontier through its next phase of execution, including construction mobilization and coordinated delivery across engineering, procurement, and construction to Final Completion.

Frontier's design and development leveraged BrightNight's advanced optimization platform, PowerAlpha®, to deliver best-in-class power project value for LG&E and KU.

With multiple projects progressing through development, financing, construction and operations across the U.S., BrightNight continues to build momentum as a leading provider of next-generation power infrastructure, delivering scalable solutions for utilities, data centers, and commercial and industrial customers.

ABOUT BRIGHTNIGHT

BrightNight is a next-generation power and digital infrastructure company, purpose-built to serve the evolving needs of utilities, commercial and industrial (C&I) customers.

BrightNight designs, develops, and operates large-scale energy and infrastructure sites that integrate utility-scale renewables, advanced gas generation, battery energy storage, and power-optimized hubs for digital infrastructure. BrightNight's industry-leading 30 GW portfolio of best-in-class power projects is concentrated in the fastest-growing energy markets and data center hubs across the U.S.

BrightNight's customer focus, industry-leading team of talent, and proprietary AI platform – PowerAlpha® – enable it to deliver best-in-class economics, performance, and uptime.

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) and its companies, are regulated utilities that serve nearly 1.4 million customers and have consistently ranked among the best companies for customer service in the United States. LG&E serves 336,000 natural gas and 443,000 electric customers in Louisville and 16 surrounding counties. KU serves 581,000 customers in 77 Kentucky counties and 28,000 in five counties in Virginia. More information is available at www.lge-ku.com and www.pplweb.com.

Forward Looking Statements & Information

Certain information contained in this news release constitutes forward looking information or forward looking statements (collectively, forward looking statements). All statements other than statements of historical fact are forward looking statements. Forward looking statements typically contain words such as anticipate, believe, confirms, continuous, estimate, expect, may, plan, project, should, will, offers, or similar words suggesting future outcomes, and include, without limitation, all financial projections, estimates of future costs, and projected performance or results. Forward looking statements by their nature are subject to risks, assumptions and uncertainties which may cause the actual outcomes of such events to differ from BrightNight's expectation as of the date hereof. Whether forward looking statements ultimately prove to be accurate will depend on factors outside of the control of BrightNight. Readers are encouraged to undertake their own analysis and investigation as to the reasonableness of any such forward looking statements. Forward looking statements contained in this news release are made as at the date of this news release and BrightNight disclaims any intent or obligation to update or to revise any of the included forward looking statements.

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SOURCE BrightNight