Gemini Solar + Storage — refinancing of 690 MW solar + 380 MW/1,400 MWh storage in Clark County, Nevada
Refinancing of one of the largest solar+storage projects in the US. Private placement of senior secured notes plus LC facility. Project became operational in 2024. DC-coupled configuration. PPA with NV Energy.
$760M
Deal Value
690MW
Capacity
1,400MWh
Storage
Solar + Storage
Technology
NV
Location
Deal Details
- Deal Type
- Project Finance
- Seller / Sponsor
- Primergy Solar
- Buyer / Financier
- NV Energy
- Offtaker
- NV Energy
- Deal Value
- $760M
- Stage
- Operating
- ISO/RTO
- WECC
- Source
- Energies Media
Capital Structure
$760M
Total transaction value
Tranches
- Senior Secured Notes (24-year fully amortizing, private placement) · BofA Securities, KeyBanc Capital Markets, MUFG Securities (lead placement agents)
- $600M
- Letter of Credit Facility · BofA Securities, KeyBanc Capital Markets, MUFG Securities
- $160M
Service Providers
Advisory & Legal
- Sponsor Counsel
- Orrick, Herrington & Sutcliffe
- Lender Counsel
- Latham & Watkins
Finance Counterparties
Lenders & Capital Providers
- Lead Arranger
- BofA Securities; KeyBanc Capital Markets; MUFG Securities Americas
- lender
- BNP Paribas; SMBC Nikko
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