Primergy Solar has closed commitments for $588 million in debt financing for the 408 MW Ash Creek Solar project in Hill County, Texas, while also signing a long-term PPA with Microsoft for the plant’s full capacity.
Primergy has engaged SOLV Energy as the project’s EPC partner. Construction has started and once operational, the project is expected to be managed by six permanent on-site positions.
“The successful completion of this financing and a long-term PPA from Microsoft for Ash Creek is a testament to Primergy’s proven ability to creatively develop, finance, build, and operate large-scale renewables projects,” says Ty Daul, CEO of Primergy.
“Ash Creek aligns with Primergy’s mission to invest in well-located projects that offer regional diversity to our portfolio and serve the needs of leading corporate customers. Our team is extremely grateful for our continued partnership with prominent clean energy project financiers to make this a reality and are proud to work with Microsoft on meeting its sustainability commitments.”
Project debt financing includes a construction loan, tax credit transfer bridge loan and related letters of credit. Facilities are led by MUFG Bank and SMBC as lead structuring arrangers and seven coordinating lead arrangers, including BNP Paribas, Commerzbank AG, Crédit Agricole Corporate and Investment Bank, ING Capital, KeyBanc Capital Markets, Norddeutsche Landesbank Girozentrale, New York Branch and Rabobank. Latham & Watkins acted as Primergy’s legal counsel, while Skadden Arps Slate Meagher & Flom served as lender’s counsel.
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 Financing, PPA with Microsoft for Texas Solar Project appeared first on Solar Industry.
Primergy Secures Financing, PPA with Microsoft for 408 MW Solar Project
Renewable Energy
Indoctrinating Children into Religion
All I can say about the me here is that personally I refused, against considerable pressure from my family, to indoctrinate my children into something I myself could not accept.
Is it actually “psychological abuse” to indoctrinate children into monotheistic religion? Whether to take it that far is an open question.
My parents, both atheists, sent my brother and me to Sunday School, as they thought it wrong to cut us off from a modality of growing up in America in the early 1960s. I don’t blame them, but again, it’s not something I was willing to replicate with my own children.
Renewable Energy
Republicans’ Last-Ditch Effort to Lie to Voters
In less than a month, we’re going to learn how many idiots are buying this socialism crap.
Sure, there are people who don’t know anything about the way people live in northern England, New Zealand, Costa Rica, etc. Most of these people couldn’t find these countries on this globe.
But how many can there possibly be?
Clearly, Republicans are desperate, but isn’t asking voters to believe that the Swedes have to rely on the government for their job, salary, and food a bit over-the-top?
Renewable Energy
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I got the meme here from a neighbor, but I wonder who actually wrote it. There is a ton of propaganda on social media suggesting that we need to normalize the sociopathic criminality of the U.S. president.
It’s true that not every election is an apocalypse, but 2024 was disastrous for the U.S. democracy.
Yes, the country did not end. But it took a giant leap towards authoritarianism.
Even that’s not the end of the world. Democracies fail with great frequency on this planet. I just never thought I’d be living in the biggest socio-political collapse in the last 2000 years.
In an average week, I meet quite a few travelers here from lands all around this planet. Their most common thoughts on what’s happening here: “We simply feel sorry for you.”
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