Primergy Solar Closes $225 Million in Corporate and Project Financing for its Valley of Fire Portfolio

Stoel Rives represented Primergy Solar Management LLC (Primergy), in closing a $100 million revolving credit facility from Rabobank the company will use for continued solar and energy storage project development. The credit facility is a portion of $225 million in project financing Primergy obtained for its Valley of Fire portfolio, which includes six projects that are operational or in early-to-late-stage development in Nevada, Colorado, and Arizona with  more than 2.65 GW of solar capacity and up to 1.5 GW of battery storage capacity.

Founded in 2020, Primergy develops, finances, builds, owns, and operates utility-scale solar photovoltaic and large-scale battery storage projects nationwide.

A team led by Heather Stewart and including Alex Mertens and Sylvia Koh counseled Primergy in the deal.

For more information, see a Business Wire press release.