Longroad Energy Reaches Financial Close for 202-MWp Texas Solar Project
- US-based renewables developer Longroad Energy has reached financial close for its 150-MW/202-MWp solar project in Texas and started construction. The plant will produce electricity for power distribution firm Entergy Texas Inc and is expected to reach commercial operations by the end of 2023.
Longroad Energy, a US-based renewables developer, has announced that it has reached financial close for its 150-MW/202-MWp solar project in Texas and started construction of the plant. The project will benefit from debt facilities provided by Zions Capital Markets, Silicon Valley Bank, and Rabobank, as well as tax equity arranged by Longroad. The plant will be located in Polk County and will be Longoad’s first project within grid operator MISO’s footprint in Texas. McCarthy Building Companies is in charge of the project construction, which will use US-made Series 6/6+ modules supplied by First Solar, PV inverters by Power Electronics and trackers delivered by Nextracker. NovaSource and Longroad’s affiliate Longroad Energy Services will be responsible for operation and maintenance. (Source: Longroad Energy)
Why does it matter?
The Umbriel Solar project is a significant milestone for Longroad Energy, as it marks their first project within grid operator MISO’s footprint in Texas. The project will provide clean energy to power distribution firm Entergy Texas Inc, and is expected to reach commercial operations by the end of 2023. This project is a major step forward in the development of renewable energy in the US and shows that solar energy is becoming more accessible and cost-effective. Additionally, the project is expected to create jobs in the area and contribute to the local economy.
The Umbriel Solar project is just one of many solar projects that Longroad Energy is working on. The company has over 1.7 GW of total wind and solar projects developed, financed, and built in Texas, and is continuing to expand its reach. Longroad Energy is also working on projects in other states, such as Massachusetts, New York, and New Jersey. As the cost of solar energy continues to decrease, Longroad Energy is well-positioned to take advantage of the growth in the solar energy industry.
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