Quinbrook-backed Primergy Solar sells minority stake in Gemini Solar + Storage project

Truist Securities also advised Quinbrook and Primergy on the transaction.

  • Primergy is a developer, owner and operator focused on both distributed and utility scale solar PV and battery storage projects in North America
  • Gemini is a solar battery energy storage facility
  • APG is a Dutch pension asset manager

Primergy Solar, a portfolio company of Quinbrook Infrastructure Partners, has sold a minority stake in Nevada-based Gemini Solar + Storage project, to APG. No financial terms were disclosed.

Gemini is a solar battery energy storage facility.

APG is a Dutch pension asset manager.

Once complete and operational in 2023, Gemini is expected to generate enough clean energy to power more than 400,000 homes during peak periods and displace 1.5 million metric tons of CO2 annually.

Truist Securities also advised Quinbrook and Primergy on the transaction.

David Scaysbrook, co-founder and managing partner of Quinbrook said in a statement, “We are very excited to welcome APG as a partner to Quinbrook and Primergy as we advance construction of such a milestone project for US clean energy. Given the scale and impact of Gemini, we felt APG was an exemplary partner for us that is differentiated by its sophisticated approach to the Gemini project and to the US renewables market more generally. Our Primergy team will continue to manage the construction and operational phases of Gemini with some exciting milestones coming up as the mammoth Gemini Project takes shape.”

Primergy is a developer, owner and operator focused on both distributed and utility scale solar PV and battery storage projects in North America.

APG has about 558 billion euros in assets under management.