Longroad finishes 200MW Arizona solar

Jul 21, 2021 05:25 PM ET
  • Designer has 100% of the Sun Streams 2 project after obtaining it in early 2021 from First Solar
Longroad finishes 200MW Arizona solar
Image: Longroad Energy

Longroad Energy has completed its 200MW Sun Streams 2 solar project in Arizona and shut term funding for the possession.

Longroad has 100% of the project after getting it in very early 2021 from First Solar, the original designer.

CIBC was the working with lead arranger, security representative as well as issuing bank.

"Sun Streams 2 is a fantastic project, and we enjoy to wrap up the irreversible capital structure," stated Peter Keel, chief financial officer of Longroad Energy.

Sun Streams 2 has a 20-year profits arrangement with Microsoft Corporation for the energy, renewable energy certificates and capacity of the full project to sustain the renewable resource objectives of its new lasting information centre region, West US 3.

First Solar was the initial designer of the project as well as the vendor of the Series 6 modules.

The project was developed by McCarthy, the trackers were provided by Nextracker and also inverters were supplied by SMA.

Sun Streams 2 is just one of four Maricopa County-based projects that Longroad got from First Solar in February 2021.

The solar as well as storage space portfolio totals about 900MW (DC) with the possibility for 1-2 gigawatt hrs of battery storage space.

Sun Streams 3, 4, as well as 5 are growth projects with target functional days between 2022 and also 2024.

These projects are preferably positioned to suit a range of offtake structures, with or without storage.

The projects are expected to create over $40m for Arizona's schools through a lasting lease with the Arizona State Land Department, and also over $5m in tax obligation revenue.

The Sun Streams projects mark a growing presence in Arizona for Longroad.

The firm owns various other running solar projects in the state as well as an existing development portfolio.

The Sun Streams website is well situated, beside a considerable power hub in the desert south-west and California, offering excellent solar source, as well as accessibility to several transmission options with direct access to CAISO and the south-west markets.

Longroad affiliate Longroad Energy Providers is the property manager as well as driver, and is offering remote surveillance services to the project over the long-term.