OAKLAND, CA– Primergy Solar, LLC (‘Primergy’), a leading developer, owner, and operator of utility-scale solar, distributed solar, and energy storage, announced the completion of a 75 million revolving credit facility with Rabobank, with the option to expand to USD 200 million.
The facility will support a growing pipeline of solar and solar+storage projects in the United States. Primergy’s near-term portfolio comprises the previously announced Gemini and Iron Point/Hot Pot projects in Nevada and approximately 2.3 GW of storage projects with operational dates through 2026. A total of 5 GW of solar PV and 4.3 GW of storage projects are scheduled for completion after 2026.
Tim Larrison, Primergy’s Chief Financial Officer:
“We value our connection with Rabobank and their assistance. This facility will allow Primergy to extend our project portfolio as we focus on constructing large-scale solar and storage projects that will bring significant decarbonization of electricity supply in different U.S. areas while also benefiting local communities financially.”
The new lending arrangement further diversifies Primergy’s financing sources and supports the company’s continuous expansion of a varied portfolio of projects that currently encompasses 17 states. The tasks of Primergy are distinguished by a significant emphasis on responsible placement, which minimizes land disturbance and affects local flora and animals.
Site of 408 MWac Ash Creek: The Ash Creek Solar Project is strategically placed between Dallas and Austin, two significant metropolitan load centers. Construction begins in 2023, with the project expected to be operational by 2024. During development, Ash Creek will create roughly 250 full-time equivalent employees and extra benefits to local schools and families.
Prairie Mist, a 300 MWac project in Ashley County, Arkansas, is located in MISO South: The Prairie Mist Project is set to be built in stages through 2026. The 100 MWac initial phase is planned to create 100 construction jobs and earn USD 10 million in income for Ashley County when it is completed in 2024. The project links to Entergy’s transmission infrastructure and will provide a vital renewable energy resource to help meet the region’s growing need for low-carbon power.
Primergy Solar, LLC is a US-based developer, owner, and operator of distributed and utility-scale solar PV and battery storage systems. Quinbrook Infrastructure Partners’ portfolio firm Primergy Solar is the essential investment vehicle for Quinbrook Infrastructure Partners’ solar and solar plus energy storage activities in North America.
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