Primergy Solar gets commitments for $588 million debt financing

By Marisa Wong

Los Angeles, March 11 – Primergy Solar LLC closed commitments for $588 million of debt financing for the 408 MWac Ash Creek Solar project in Hill County, Tex., according to a press release.

The Ash Creek Solar project debt financing includes a construction loan, tax credit transfer bridge loan and related letters of credit.

The facilities are led by MUFG Bank, Ltd. and SMBC as lead structuring arrangers and seven coordinating lead arrangers, including BNP Paribas, Commerzbank AG, Credit Agricole CIB, ING Capital, KeyBanc Capital Markets, Norddeutsche Landesbank Girozentrale, New York Branch and Rabobank.

Latham & Watkins LLP acted as Primergy’s legal counsel, while Skadden Arps Slate Meagher & Flom acted as lender’s counsel.

Primergy is an Oakland, Calif.-based developer, owner and operator focused on both distributed and utility-scale solar PV and battery storage projects across the United States.

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