Gemini solar project reaches financial close

Gemini solar project reaches financial close

25 Apr 2022

American developers Quinbrook Infrastructure Partners and Primergy Solar have announced financial close for its Gemini project in Nevada. It consists of a 966MW solar power plant with an adjacent 380MW energy storage facility.

The companies have secured almost US$2bn in debt and tax equity for Gemini’s development. The US$1.3bn debt financing is related to credit facilities such as construction loan, tax equity bridge loan and letter of credit facility.

Other US$532m in tax equity commitments were provided by the Truist Bank and Bank of America.

Gemini’s start-up is scheduled for 2023, after which the plant will provide energy through a 25-year power purchase agreement (PPA) already established with NV Energy.

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