Gemini Solar + Storage — 690 MWac solar + 380 MW/1,400 MWh BESS, Clark County, Nevada
Primergy closes $600M private placement senior secured notes + $160M LC facility ($760M total) refinancing for Gemini Solar + Storage (one of the largest solar+storage projects in the US). 24-year fully amortizing notes. Backed by 25-year PPA and 10-year PTC transfer agreement. Lead placement agents: BofA Securities, KeyBanc, MUFG Securities Americas. Separate from the 2024 construction financing (fin-2024-012).
$760M
Deal Value
690MW
Capacity
1,400MWh
Storage
Solar + Storage
Technology
NV
Location
Deal Details
- Deal Type
- Project Finance
- Seller / Sponsor
- Primergy Solar (Quinbrook Infrastructure Partners)
- Deal Value
- $760M
- Stage
- Operating
- ISO/RTO
- WECC
- Source
- PR Newswire
Capital Structure
$760M
Total transaction value
Tranches
- Senior Secured Notes · BofA Securities, KeyBanc Capital Markets, MUFG Securities Americas (placement agents)
- $600M
- Letter of Credit
- $160M
Finance Counterparties
Lenders & Capital Providers
- 0
- BofA Securities
- 2
- MUFG Securities Americas
Related Deals
Prairie Mist Solar (Amazon Solar Farm Arkansas) — 100 MWac utility-scale solar, Ashley County, Arkansas (MISO)
Primergy Solar (Quinbrook Infrastructure Partners) → SMBC (lead), Norddeutsche Landesbank, Société Générale, Crédit Agricole CIB
~$300M (debt + tax equity)
Ash Creek Solar — 408 MW utility-scale solar, Hill County, Texas (ERCOT)
Primergy Solar (Quinbrook Infrastructure Partners) → Multiple ($588M project debt + $350M tax equity ~$1B total)
$588M project finance + $350M tax equity (~$1B total)
Arrow Canyon Solar + Storage — 200 MW solar + 75 MW / 300 MWh storage, Nevada
EDF Renewables → NV Energy
Battle Mountain Solar Project — Solar + Storage project, NV (West (non-ISO)), 101 MW + 25 MW / 100 MWh storage, COD 2021.
Investor-owned Utility
Fish Springs Ranch Solar Energy Center — Solar + Storage project, NV (West (non-ISO)), 100 MW + 25 MW / 100 MWh storage, COD 2022.
Investor-owned Utility
Mira Loma Battery Storage Facility — 20 MW / 80 MWh Li-ion (~400 Tesla Powerpacks)
Tesla → Southern California Edison
20 MW
Get deals like this in your inbox
Free weekly clean energy deal intelligence. Every Monday.