Primergy Solar Secures $350 Million for Ash Creek Solar Project

In a big leap towards a cleaner energy future, Primergy Solar has locked in $350 million in tax equity financing for its Ash Creek Solar project in Hill County, Texas.

This funding boosts the total capital raised for the project to nearly $1 billion, setting the stage for a 408 MWac solar powerhouse.

Earlier this year, the company secured a hefty $588 million in project financing, along with a long-term power purchase agreement with Microsoft.

Not a bad combo, right?

With construction already underway, the Ash Creek Solar project is expected to be fully operational by early 2025, just in time to power Texas with some serious green energy.

Now, this wasn’t a small feat. Primergy’s ability to snag this level of funding, especially in today’s ERCOT (Electric Reliability Council of Texas) market, speaks volumes about their track record.

After all, large-scale solar projects like this one are a big deal for decarbonizing the grid and making the electric system more resilient—something we can all appreciate when we flip the switch.

The investment was led by a Fortune 500 telecommunications company, with additional support from Truist Bank. Primergy’s financial and legal team included heavy hitters like Latham & Watkins LLP and Paragon Energy Capital, while their investors brought in Milbank LLP and Cornerstone Financial Advisors LLC.

Since 2020, Primergy and Quinbrook Infrastructure Partners have raised around $3.8 billion for U.S. solar and battery storage projects. Not too shabby for a company that’s quickly becoming a leader in the renewable energy space.

With Primergy’s expertise and deep pockets, the Ash Creek Solar project is just another step toward a cleaner, brighter future.

Stay tuned—Texas sunshine is about to get even more valuable.