$600 million refinancing: Primergy Solar and Quinbrook Infrastructure Partners (QIP) have completed a $600 million bond refinancing for the Gemini Solar + Storage Project in Clark County, Nevada. It is touted as one of the largest co-located solar-plus-storage facilities in the US. The refinancing includes a private placement of senior secured notes and a $160 million letter-of-credit facility. The project combines 690 MW AC of solar PV with 380 MW AC of battery storage and has been operating since 2024 (see North America Solar PV News Snippets). The 24-year financing, backed by long-term power purchase and tax credit agreements, is designed to provide stable long-term funding and remove future refinancing risk, said Primergy.
Pine Gate assets sold: Nofar USA has closed the acquisition of about 1 GW of utility-scale solar assets from Pine Gate Renewables. The portfolio spans projects in Texas, Alabama, North Carolina, and South Carolina, including around 650 MW already operational, 100 MW in advanced construction, and 225 MW in early construction. Following the deal, Nofar USA’s portfolio rises to about 2.3 GW of solar and 1.5 GWh of storage under development. The transaction was approved by the US Bankruptcy Court and backed by $255 million in financing from Bank Hapoalim. According to local media reports, Amazon has also acquired Sunstone Solar and Storage Project from Pine Gate, reportedly with 1.2 GW solar PV and 7,200 MWh of BESS capacity, amid its focus on data centers. Pine Gate filed for bankruptcy protection in 2025 (see Pine Gate Renewables Files For Chapter 11 Bankruptcy Protection).
New RE platform: Brookfield Asset Management (BAM), British Columbia Investment Management Corporation, and Norges Bank Investment Management have launched Northview Energy. This is a renewable energy platform focused on acquiring and owning contracted operating assets across the US and Canada. The company will start with a seed portfolio of 22 utility-scale solar and onshore wind projects totaling about 2.3 GW of capacity across 6 US power markets, all backed by long-term power purchase agreements averaging around 16 years. The partners will equally fund and own the platform, which could deploy up to $1.5 billion in additional equity to acquire more solar, wind, and battery storage assets.
Intersect ownership changes hands: Google’s parent group Alphabet has completed its acquisition of all digital power assets of Intersect in an all-cash deal of $4.75 billion with global alternative asset management firm TPG. Intersect builds dedicated gas and renewable energy generation projects to meet industrial demand, which Alphabet said it will leverage to build more data centers and power generation facilities (see Alphabet To Acquire Intersect For $4.75 Billion In Cash).
As part of the transaction, Intersect’s existing investors, including TPG, Google, Climate Adaptive Infrastructure (CAI), and Greenbelt Capital Partners, spun off Intersect’s grid-tied power business to form a new independent power producer (IPP) called IPX Power with majority backing from TPG Rise Climate. It will focus on co-located solar and battery energy storage systems (BESS) projects. Its existing portfolio stands at 4.4 GW of solar PV and 8.8 GWh of storage assets, either under construction or in operation.
324 MW AC moves forward: Sol Systems has reached financial close for the 144 MW AC Blossom Solar project in Morrow County, Ohio, and announced the 180 MW AC Nightfall Solar project in Uvalde County, Texas, expanding its US clean energy portfolio. The Blossom project will supply renewable electricity to the grid while generating local economic benefits, while the Nightfall project will add to the company’s growing pipeline of utility-scale solar developments.
Over $400 million for Greenbacker: Renewable energy investor and IPP Greenbacker Renewable Energy has completed more than $400 million in portfolio refinancings, loan maturity extensions, and a construction loan upsizing across its clean energy assets. The transactions include a $188 million increase to the construction loan for the 674 MW Cider Solar Project in New York, maturity extensions on $187 million tied to 86 MW of renewable assets, and a $53 million refinancing that consolidates loans across three solar portfolios totaling 104 MW. The company said the deals strengthen its balance sheet and improve capital efficiency.
