Primergy Photo voltaic LLC, a developer, proprietor and operator of utility-scale photo voltaic, distributed photo voltaic and power storage, has closed with Rabobank on a $75 million revolving credit score facility with the choice to extend as much as $200 million. The ability will probably be used to assist a rising improvement pipeline of photo voltaic and photo voltaic+storage tasks throughout the U.S. Primergy’s near-term portfolio exceeds 3.2 GW of photo voltaic PV and 2.3 GW of storage tasks concentrating on operational dates by means of 2026, which incorporates the beforehand introduced Gemini and Iron Level/Sizzling Pot tasks in Nevada. An extra 5 GW of photo voltaic PV and 4.3 GW of storage tasks are deliberate for operational dates after 2026.
“We’re grateful for Rabobank’s partnership and assist,” says Tim Larrison, CFO at Primergy. “This facility will enable Primergy to proceed to develop our challenge portfolio, as we deal with growing large-scale photo voltaic and storage tasks that ship impactful decarbonization of energy provides in a number of U.S. areas and create optimistic monetary impacts for native communities.”
The brand new debt facility additional diversifies Primergy’s financing sources and helps the continued development of a various portfolio of tasks which now spans 17 states.
“As main utility-scale developer, this facility gives Primergy a versatile financing car by means of which it could effectively develop its improvement pipeline targets,” states Claus Hertel, managing director of challenge finance. “Rabobank is happy to have structured this financing to permit Primergy to satisfy its development targets in various geographies and supporting the power transition, representing a powerful alignment with the financial institution’s technique of supporting purchasers’ decarbonization objectives.”