1 minute read | March.26.2026
Primergy, together with Quinbrook, announced that the Gemini Solar + Storage Project secured a landmark refinancing through a $600 million private placement of senior secured notes, alongside a $160 million letter of credit facility. The long-term, fully amortizing note replaces prior financing, locks in stable cash flows backed by contracted revenues and eliminates future refinancing risk.
Orrick advised Primergy.
Primergy develops, owns and operates utility-scale solar and battery storage projects across the United States. It manages a large portfolio of projects in major power markets, including ERCOT, MISO, PJM and CAISO.
Gemini is the largest co-located, single-phase project in the U.S. and continues to deliver reliable energy from its Nevada site. This milestone refinancing achieved one of the lowest spreads in the renewable private placement market, demonstrating the long-term reliability expected by investors, utilities and consumers.
The Orrick team was led by Rob Warfield with support by Aaron Lee, Sara Forden, Wenlong Zhuge and Sam Little.