Longroad reaches fin close on 285-MWp solar project in Arizona
- US-based Longroad Energy Holdings LLC on Wednesday stated it has actually protected all required funds for its 285-MW DC Sun Streams 3 solar park in Arizona, enabling to go into the building phase of the project.
The system is part of a 900-MW DC portfolio of solar (PV) projects that Longroad acquired from their original designer First Solar Inc (NASDAQ: FSLR) in February 2021. The package includes assets that are currently in operation, in addition to projects presently under development.
Financial debt financing for Sun Streams 3 was prolonged by CIBC, KeyBank, ANZ, Commerzbank, PNC and Silicon Valley Bank. US Bank is offering tax equity.
To be set up in Arizona's Maricopa County, the solar farm will be furnished with First Solar's Series 6 modules mounted on Nextracker trackers and is prepared to be switched on in 2024. Its output, estimated to be sufficient to cover the annual power intake of 90,000 homes, will be offered under a long-lasting power purchase contract (PPA) with Arizona Public Service (APS).
McCarthy Building Companies will act as design, procurement as well as building and construction (EPC) service provider.
The solar farm will certainly be coupled with a 215-MW/860-MWh storage facility provided by US-based Powin LLC.
Sun Streams 3 will end up being the largest solar-storage site in Longroad's operational portfolio. In Arizona, the company stated it has 4 GW of assets in operation and under development.