Primergy continues to expand Nevada portfolio with over 1,300 MWac and 3,330 MWh of BESS
OAKLAND, Calif., January 24, 2022 – Primergy Solar, LLC (‘Primergy’) a leading developer, owner and operator of utility and distributed scale solar and storage, announced that NV Energy has received final approval from the Public Utilities Commission of Nevada (‘PUCN’) to purchase from Primergy the Iron Point and Hot Pot Solar PV and battery storage projects in Humboldt County, Nevada. The projects, which are owned and being developed by Primergy, total 600-megawatt AC (MWac) of solar paired with 480 MW of battery storage capacity and once operational, will replace the coal-fired North Valmy Generating Station. Primergy is a portfolio company of Quinbrook Infrastructure Partners.
Primergy and NV Energy entered into Build Transfer Agreements for the sale and purchase of the projects, which NV Energy filed for approval with the PUCN on July 1, 2021. The Iron Point and Hot Pot projects highlight how solar + storage plants can be a very compelling and cost competitive source of carbon free power offering significant operational flexibility to NV Energy. Additionally, both projects support NV Energy’s transition from fossil fuels to renewable energy by taking full advantage of Nevada’s abundant solar power resources.
Primergy’s Nevada portfolio now exceeds 1,300 MWac of solar and 3,330 MWh of battery energy storage systems (BESS). The company’s presence in Nevada is anchored by the $1.2 billion Gemini Solar Project where preliminary construction is under way and operations are scheduled to commence in late 2023. Primergy’s Nevada projects are amongst the largest ever undertaken globally and will significantly advance Nevada’s sustainability and carbon reduction goals while maintaining safe and reliable power supplies in the state.
“We are pleased that the PUCN has approved these milestone renewable energy projects that will help advance Nevada’s net zero carbon goals,” said Ty Daul, Chief Executive Officer at Primergy. “These projects demonstrate the important role that solar + storage can play in replacing coal generating plants with clean and low-cost renewable energy. Our portfolio in Nevada represents a substantial multi-billion dollar investment in new energy infrastructure for the state. We are proud to be bringing reliable, safe and cost-effective carbon free power to homes and businesses across Nevada.”
The Iron Point Solar Project is a 250-MWac solar system paired with 200-MW of battery storage and is expected to be commissioned in December 2023. The Hot Pot Solar Project is 350-MWac solar system paired with 280-MW of battery storage and is expected to be in-service by December 2024. Collectively, these projects will have the capacity to power 127,000 homes in Nevada.
Construction for the projects is expected to create approximately 800 job opportunities for the local Nevadan communities during peak periods and is scheduled to begin in the second half of this year. The bulk of these jobs will be performed by the International Brotherhood of Electric Workers.
This is yet another bright day in Primergy’s stellar growth and achievements and further cements the market leadership position the team has so quickly established in the US. We are particularly delighted with the further vote of confidence shown by NV Energy in selecting Primergy and Quinbrook to help deliver their ambitious renewables goals with Iron Point and Hot Pot. Together with Gemini, Quinbrook is making a substantial investment in Nevada which we are confident will serve our investors well for many decades to come.David Scaysbrook
About Primergy Solar
Primergy Solar, LLC (https://www.primergysolar.com) is a developer, owner and operator focused on both distributed and utility scale solar PV and battery storage projects in North America. Primergy Solar features a diverse and talented team with decades of experience in renewables project development, financing, construction and operations. Primergy is currently managing and progressing a significant portfolio of operational and development stage solar+ battery storage projects. Primergy Solar is a portfolio company of Quinbrook Infrastructure Partners and represents Quinbrook’s principal solar and solar plus energy storage investment platform in North America.
About Quinbrook Infrastructure Partners
Quinbrook Infrastructure Partners (http://www.quinbrook.com) is a specialist investment manager focused exclusively on renewables, storage and grid support infrastructure and operational asset management in the US, UK, and Australia. Quinbrook is led and managed by a senior team of power industry professionals who have collectively invested c.USD 8.2 billion equity in energy infrastructure assets since the early 1990s, representing a total enterprise value of c.USD 28.7 billion or 19.5 GW of power supply capacity. Quinbrook has completed a diverse range of direct investments in both utility and distributed scale onshore wind and solar power, battery storage, reserve peaking capacity, biomass, fugitive methane recovery, hydro and flexible energy management solutions in the US, UK, and Australia.
Silverline Communications – on behalf of Primergy
Sloane & Company – on behalf of Quinbrook