Primergy Solar, a developer, owner and operator of utility-scale solar and storage projects, has closed commitments for $588 million in debt financing for the 408 megawatts AC Ash Creek Solar project in Hill County, Texas.
The company also signed a long-term power-purchase agreement with Microsoft for the full capacity of the plant.
“The successful completion of this financing and a long-term PPA from Microsoft for Ash Creek is a testament to Primergy’s proven ability to creatively develop, finance, build and operate large-scale renewables projects,” said Ty Daul, CEO of Primergy. “Ash Creek aligns with Primergy’s mission to invest in well-located projects that offer regional diversity to our portfolio and serve the needs of leading corporate customers. Our team is extremely grateful for our continued partnership with prominent clean-energy project financiers to make this a reality and are proud to work with Microsoft on meeting its sustainability commitments