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
Here’s Lucy Biggers, social media powerhouse, explaining how solar and wind energy actually aren’t free, because they require materials that need to be mined from the Earth.
Yes, Lucy. I think most of us already knew that.
It’s hard for me to understand how a person with zero training in science has any relevance to what climate scientists are telling us. If I want a good recipe for carrot soup, I don’t ask a baseball coach or an auto mechanic.
They call this woman an “influencer.” What type of idiot does she influence?
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.
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