In 2024, Primergy obtained $588 million in project financing and $350 million in tax equity financing, totaling nearly $1 billion. The funding included a construction loan, a tax credit transfer bridge loan, and related letters of credit, led by MUFG Bank, Ltd. and SMBC as lead structuring arrangers. The project, initially developed by Orion Power Generation—a joint venture between Orion Renewable Energy Group and Eolian—began in 2016 and was acquired by Primergy in 2021. Solv Energy served as the engineering, procurement, and construction contractor.
The Ash Creek solar project is expected to contribute approximately $100 million in tax revenue to Hill County over its operational life, boosting the local economy and supporting school districts. During construction, it created 350 full-time jobs, with six permanent positions retained for ongoing maintenance.
Primergy’s CEO, Ty Daul, stated: “Projects like Ash Creek Solar provide thoughtful energy solutions to meet the needs of consumers, drive long-term value, and strengthen America’s energy independence.” The initiative reflects Primergy’s commitment to expanding clean energy infrastructure across North America.
Primergy also operates the Gemini Solar + Storage project in Nevada, which became operational in July 2024, adding 690 MW of solar and 380 MW of 4-hour battery storage with over 1.8 million solar panels. The Ash Creek project further solidifies Primergy’s role in advancing renewable energy solutions.
Texas leads the U.S. in solar capacity, with over 43.5 GW installed, powering more than 5 million homes and sourcing over 8% of its electricity from solar, according to the Solar Energy Industries Association (SEIA). The state’s solar industry employs over 12,000 people, with significant capacity additions in 2024. The Ash Creek project enhances Texas’s position as a solar energy leader, contributing to sustainable energy production and local economic growth.
