Primergy has closed commitments for $300 million in debt finance and tax equity investment for the 100 MW AC Prairie Mist Solar Project in Ashley County, Ark.
The Prairie Mist project debt financing includes a tax equity bridge loan, construction/term debt and a letter of credit facility. The debt facilities are led by Norddeutsche Landesbank Girozentrale, Société Générale, Crédit Agricole Corporate and Investment Bank, as well as SMBC. The Prairie Mist financing also includes a tax equity investment led by an affiliate of PNC Financial Services Group.
“We are pleased to have supported Primergy on the Prairie Mist financing as coordinating lead arranger,” says Nord/LB’s Alejandro Lopez-Jensen. “This project represents our commitment to financing renewable energy projects throughout the U.S. Nord/LB values our relationship with Primergy and our shared goals toward advancing the energy transition.”
“The Primergy team is focused on developing, building, and operating best-in-class carbon-free energy supply projects across the country,” adds Ty Daul, CEO of Primergy. “We are grateful for our continued partnership with the leading clean energy project financiers that are focused on helping us decarbonize the U.S. power grid.”
The Prairie Mist Solar Project is currently under construction and will connect to Entergy’s transmission system in the Midcontinent Independent System Operator’s operating footprint.
The project is expected to be completed next year. Once operational, it is set to provide enough energy to power approximately 22,000 homes annually.
