Gemini Solar+Storage — 690 MWac solar + 1,416 MWh battery storage; largest US solar+storage at the time
APG Asset Management acquires 49% stake in Gemini Solar+Storage from Quinbrook/Primergy — $588M implied. Project closed $1.9B tax equity + debt led by BofA, Truist, KeyBanc, MUFG, NORD/LB. Largest US solar+storage at the time (690 MWac + 1,416 MWh). 25-year PPA with NV Energy.
$588M
Deal Value
690MW
Capacity
1,416MWh
Storage
Solar + Storage
Technology
NV
Location
Deal Details
- Deal Type
- Project & Portfolio M&A
- Seller / Sponsor
- Quinbrook Infrastructure Partners / Primergy Solar
- Buyer / Financier
- APG Asset Management (on behalf of ABP)
- Offtaker
- NV Energy
- Deal Value
- ~$588M (49% of $1.2B implied project value)
- Stage
- Construction
- ISO/RTO
- WECC
- Source
- BusinessWire / Quinbrook
Finance Counterparties
Lenders & Capital Providers
- taxEquityProviders
- BofATruistKeyBanc
- constructionDebtArrangers
- MUFGNORD/LB
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