Allen & Overy advises on financing for largest solar project in North America
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News: 17 August 2023
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Allen & Overy (A&O) has advised Voya Investment Management (Voya) on its USD95 million mezzanine debt facility with Quinbrook Infrastructure Partners and Primergy Solar for the groundbreaking Gemini Solar + Storage Project.
As the single largest project of its kind in the U.S., Gemini Solar + Storage consists of a 690 MWac solar PV generating facility and 1,416 MWh integrated battery energy storage system located in Clark County, Nevada. Voya’s notable investment in the Gemini project contributes to the total USD1.9 billion debt and tax equity project financing.
Slated to be operational in 2023, the Gemini Solar + Storage Project is expected to meaningfully impact job creation, environmental stewardship, emissions and local community engagement, while generating enough reliable clean energy to power more than 400,000 homes.
“We are proud to advise Voya on the financing for such a monumental and progressive solar and storage project. As the market for clean energy continues to grow and demand increases across North America, we look forward to advising on additional projects that will continue to build a more sustainable future,” said Daniel Sinaiko, partner at Allen & Overy.
The A&O team was led by Projects, Energy, Natural Resources and Infrastructure practice partners Daniel Sinaiko in Los Angeles, and Jean Lee in Washington, D.C., and supported by senior counsel Gideon Wiginton in Washington, D.C. Other team members included Andrea Lucan, Chip Cannon, Simon Stevens, Sam Guthrie, Sara Douki, Maria Christopher Bell, Brendan Holman and Lawrence Rouslin.