HILL COUNTY – A solar manufacturing project is underway after securing $588 million in financing. The construction will create 350 jobs and provide $100 million in tax payments to the county over 30 years.
The Ash Creek Solar project spans thousands of acres across Penelope and Abbott. It will be under a long-term deal with Microsoft for the plant’s entire capacity, which can power 90,000 homes for a year.
Developer Primergy Solar LCC is working with SOLV Energy as the contractor. Latham & Watkins worked with Primergy on the debt financing. Skadden Arps Slate Meagher & Flom advised the lender.
The project worked with over 20 landowners who will earn $1 million to $2 million cumulatively in annual lease payments.