Primergy secures financing for solar project in Texas
In California, Primergy said it secured $588 million project financing and power purchase agreement with Microsoft for a 408 MW solar project in Texas. “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. The Ash Creek Solar site is strategically sited near several existing fossil fuel plants and high energy demand. Once completed, the project is expected to generate enough carbon-free energy to power the equivalent of approximately 90,000 homes per year, the company said. Ash Creek Solar was originally developed by Orion Power Generation, LLC, a joint venture between Orion Renewable Energy Group LLC and Eolian. Primergy acquired the project in 2021.
