Primergy Solar has closed commitments for $350 million in tax equity financing for the 408 MW Ash Creek Solar project in Hill County, Texas.
This brings the total capital raised for the Ash Creek Solar project to nearly $1 billion, says the company. Earlier this year, Primergy announced $588 million in project financing for construction of the project and secured a long-term power purchase agreement with Microsoft.
The project is currently under construction and is expected to be operational next year.
“This level of successful tax equity financing in today’s ERCOT market is a testament to our team’s ability to develop best-in-class projects,” says Tim Larrison, CFO of Primergy.
“Large-scale solar projects are essential for decarbonizing and increasing the resilience of our nation’s electric grid. We are pleased with the continued partnerships and the trust we receive from leading financial institutions and investors, which are essential to delivering clean energy to communities across America.”
The tax equity investment was led by a telecommunications company, with additional investment from Truist Bank. Primergy was advised by Latham & Watkins and Paragon Energy Capital. The telecommunications company and Truist Bank were advised by Milbank and Cornerstone Financial Advisors.
Ash Creek Solar was originally developed by Orion Power Generation, a joint venture between Orion Renewable Energy Group and Eolian. Primergy acquired the project in 2021.
The post Primergy Secures Additional $350M for Ash Creek Solar Project appeared first on Solar Industry.
Primergy Secures Additional $350M for Ash Creek Solar Project
Yes, part of this is stupidity. But a larger part is that people who still support Trump at this point are desperate to believe whatever comes out of his mouth, regardless of how nonsensical it may be.
I wish my mother were still here so I could see where she would stand. She was extremely well-educated, and a voracious reader, but somehow remained a Fox News viewer until the end. I just wonder if the last 15 months may have turned her around.
Those who stand in opposition to the president have dozens of different reasons for their feelings. One, as is on display here, is that he’s an ignoramus.
Not sure about this.
A magna cum laude graduate of Harvard Law School might struggle to identify a bear. Could be.
This is the intelligence level of the American electorate today.
-
Greenhouse Gases9 months ago
Guest post: Why China is still building new coal – and when it might stop
-
Climate Change9 months ago
Guest post: Why China is still building new coal – and when it might stop
-
Greenhouse Gases2 years ago嘉宾来稿：满足中国增长的用电需求 光伏加储能“比新建煤电更实惠”
-
Climate Change2 years ago
Bill Discounting Climate Change in Florida’s Energy Policy Awaits DeSantis’ Approval
-
Climate Change2 years ago嘉宾来稿：满足中国增长的用电需求 光伏加储能“比新建煤电更实惠”
-
Renewable Energy6 months agoSending Progressive Philanthropist George Soros to Prison?
-
Carbon Footprint2 years agoUS SEC’s Climate Disclosure Rules Spur Renewed Interest in Carbon Credits
-
Renewable Energy2 years ago
GAF Energy Completes Construction of Second Manufacturing Facility