Primergy Solar LLC, a prominent solar and solar-plus-storage developer in North America, has raised $225 million (EUR 207.6 million) to support the growth of its Valley of Fire portfolio. The financing, arranged with Dutch bank Rabobank, includes a $125 million tax credit sale for the flagship Gemini hybrid park in Nevada and a $100 million revolving credit facility.
These funds will drive the development of the Valley of Fire portfolio, which comprises 2.65 GW of solar power and up to 1.5 GW of battery storage across multiple projects in Nevada, Colorado, and Arizona. Apart from Gemini, which was recently launched in the Mojave Desert with 690 MW of solar and 380 MW of battery storage, the portfolio includes five projects in various stages of development, all set for completion by 2030.
“This financing arrangement strengthens our ability to deliver large-scale clean energy projects responsibly, leveraging our access to tax credit sales and expanded credit with institutions like Rabobank,” said Tim Larrison, CFO of Primergy.
Primergy Solar is the lead investment platform for Quinbrook Infrastructure Partners in the North American solar market. With this latest funding, Primergy is positioned to advance its renewable energy footprint, accelerating clean energy access and supporting environmental sustainability across the western U.S.
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