US$300 Million Debt and Tax Equity Investment for 100 MW Prairie Mist Solar Project

Primergy Solar LLC announced that it closed commitments for US$300 million in debt finance and tax equity investment for the 100 MWac Prairie Mist Solar Project in Ashley County, Arkansas, USA.

The debt financing for the Prairie Mist project comprises a tax equity bridge loan, construction/term debt, and a letter of credit facility. A syndicate, led by Norddeutsche Landesbank Girozentrale, Société Générale, Crédit Agricole Corporate and Investment Bank, and SMBC, is responsible for the debt facilities. Additionally, the financing includes a tax equity investment led by an affiliate of The PNC Financial Services Group, Inc.

Currently under construction, the Prairie Mist Solar Project will connect to Entergy’s transmission system in the Midcontinent Independent System Operator’s (MISO) operating footprint. This solar initiative aims to enhance Arkansas's energy mix and reduce its dependence on coal, gas, and oil for power production. Anticipated to be completed in 2024, the project will generate sufficient clean energy to power approximately 22,000 homes annually.