Primergy Solar LLC, a Quinbrook Infrastructure Partners portfolio company, has successfully closed financing commitments totaling $300 million for its 100-MWac Prairie Mist solar project in Ashley County, Arkansas.
The North American solar and storage platform announced on Tuesday that the financing includes a combination of debt and tax equity investment to support the ongoing development of the Prairie Mist solar farm. The debt financing, led by a syndicate comprising Norddeutsche Landesbank Girozentrale, Societe Generale, Credit Agricole Corporate and Investment Bank, and SMBC, encompasses a tax equity bridge loan, construction/term debt, and a letter of credit facility. The tax equity investment is led by an affiliate of The PNC Financial Services Group Inc.
Currently in the construction phase, the Prairie Mist solar project is expected to be completed in 2024. The facility will connect to Entergy's transmission system within the Midcontinent Independent System Operator's (MISO) operating footprint. Primergy anticipates that the project will contribute to enhancing Arkansas's energy independence by diversifying the state's power mix, which currently relies heavily on coal, gas, and oil.
This financing milestone underscores the ongoing commitment of Quinbrook Infrastructure Partners and Primergy Solar to advancing renewable energy projects in the United States, aligning with broader efforts to transition toward cleaner and more sustainable power sources.
