Quinbrook secures US$1.9bn financing deal for major US solar-plus-storage project

This US$1.9 billion financing package for the Gemini solar-plus-storage project in Clark County, Nevada, enables Quinbrook Infrastructure Partners to advance a significant hybrid energy asset. The capital secured on April 26, 2022, directly funds a 690 MW solar-plus-storage facility, demonstrating a clear commitment to large-scale, integrated renewable solutions in the US market. This financing allows Primergy Solar, as the project developer, to move forward with a utility-scale asset combining solar generation with energy storage, a structure designed for grid stability and dispatchability. The deal structure, focused on a single, large-capacity hybrid project, suggests a strategic play by Quinbrook to deploy capital into innovative, high-impact energy transition infrastructure. Quinbrook, as a specialist investor in energy transition infrastructure, leverages this US$1.9 billion financing to expand its portfolio of innovative projects designed to accelerate the shift to cleaner energy. Quinbrook Infrastructure Partners, founded in 2016, manages over $5 billion in assets, making this 690 MW hybrid project a notable addition to their lower carbon and renewable energy infrastructure focus. Primergy Solar, operating as a developer, owner, and operator of solar and storage in North America, benefits from this capital injection to develop, finance, construct, and operate the Gemini project in Nevada. This financing allows Primergy to execute on its core mission of delivering utility-scale solar and storage solutions across North America, enhancing its track record in the hybrid sector.