Ash Creek Solar (408 MWac, Hill County, Texas)
Quinbrook/Primergy $588M debt financing for 408 MWac Ash Creek Solar in Hill County, TX. PPA with Microsoft. Additional $350M tax equity secured October 2024, bringing total capital to ~$1B. Source: BusinessWire March 2024.
$588M
Deal Value
408MW
Capacity
800MWh
Storage
Solar + Storage
Technology
TX
Location
Deal Details
- Deal Type
- Project Finance
- Seller / Sponsor
- Quinbrook Infrastructure Partners
- Buyer / Financier
- Multiple (consortium)
- Offtaker
- Microsoft
- Deal Value
- $588M
- Stage
- Unknown
- ISO/RTO
- ERCOT
- Source
- Industry Source
Capital Structure
$588M
Total transaction value
Tranches
- Construction Loan · MUFG Bank, SMBC (lead structuring arrangers)
- —
- Tax Credit Transfer Bridge Loan · MUFG Bank, SMBC (lead structuring arrangers)
- —
- Letter of Credit · MUFG Bank, SMBC (lead structuring arrangers)
- —
Service Providers
Advisory & Legal
- Sponsor Counsel
- Latham & Watkins
- Lender Counsel
- Skadden Arps Slate Meagher & Flom
- Financial Advisor
- Paragon Energy Capital
Finance Counterparties
Lenders & Capital Providers
- Coord. Lead Arranger
- BNP Paribas; Commerzbank; Crédit Agricole Corporate and Investment Bank; ING Capital; KeyBanc Capital Markets; Norddeutsche Landesbank Girozentrale; Rabobank
- Tax Equity
- Truist Bank
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