Pristine Sun nabs $250 million private equity investment to fund 5 GW in solar projects
Pristine Sun Corp. has announced a $250 million capital commitment from strategic private equity and family office investors to develop renewable energy projects. The equity commitment will allow Pristine Sun to develop, finance and build up to 5 GW of its solar projects, depending on the capital stack structure.
The capital commitment will support Pristine Sun on proposed and active renewable energy projects in Texas, California and Louisiana, and allow the company to explore additional opportunities in the continental United States.
Since 1996, Pristine Sun and affiliates have developed solar and wind farms totaling more than 25 GW (including projects sold to other parties), with another 20 GW of projects in the pipeline.
“We’re thrilled to have this capital commitment,” said Troy Helming, founder and chairman of Pristine Sun. “We have an aggressive plan to rapidly develop significant solar projects in California, Texas and Louisiana. Three projects will exceed 1 GW, making them some of the largest in the world. 1 GW is about the capacity of two to three large coal or natural gas plants. $250 million will allow us to develop, construct, and operate these projects to power hundreds of thousands of homes and businesses with clean energy. The demand for low-cost renewable energy has never been greater, and we’re delighted to continue as a leader in the clean power revolution.”
Pristine Sun solar farms are designed and built to allow grazing between rows of panels, making them more sustainable. Pictured above is Donald the Donkey, whose role was to protect sheep from coyotes and dogs at Pristine’s Terzian Solar Project in Fresno County, California.
Pristine Sun develops utility-scale renewable energy solar and wind projects. Since 1995, the company has been developing solar and wind farms in rural and suburban areas in 22 U.S. states and several countries around the world. Pristine Sun is 100% owned by the Helming family office and has built more than 350 solar power plants, including those sold to other companies.
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