Longroad Acquires ~900 MWdc Arizona Solar & Storage Portfolio from First Solar

Source: www.gulfoilandgas.com 2/15/2021, Location: North America

Longroad Energy Holdings (Longroad), a US-based renewable energy developer, owner, and operator, announced the signing of the acquisition of Sun Streams 2, 4, and 5, which total approximately 900 MWdc in total solar capacity plus the potential for 1-2 GWh of battery storage. Longroad also closed the acquisition of Sun Streams 2. The closing of Sun Streams 4 and 5 is subject to regulatory approvals and customary closing conditions.

The projects were purchased from First Solar, Inc. Longroad will also power its Sun Streams portfolio with First Solar's responsibly-produced solar technology and has executed purchase agreements for 900 MWdc of Series 6 modules, of which 700 MWdc represent new bookings for First Solar.

Sun Streams 2 is being constructed by McCarthy Building Companies and is expected to be operational in June 2021. Sun Streams 2 energy production is sold under a long-term contract.

Sun Streams 4 and 5 are development projects with target operational dates of 2022 and 2024, respectively. Both projects are currently uncontracted and uniquely positioned to accommodate a variety of offtake structures, with or without storage.

"Arizona is an important location for Longroad as we seek to bring competitive renewable projects to power buyers in the Western U.S.," said Paul Gaynor, CEO of Longroad Energy. "The Sun Streams complex is ideally positioned. It is adjacent to one of the most significant power hubs in the desert Southwest and California, the solar resource is excellent, and we have multiple transmission options with direct access to CAISO and the Southwest markets. We also have the ability to include a significant amount of energy storage capacity to make the assets even more competitive. We look forward to bringing the rest of the Sun Streams complex to fruition."

The nameplate solar capacity of the three projects acquired by Longroad:
Sun Streams 2 – ~200 MWdc
Sun Streams 4 – ~200 MWdc
Sun Streams 5 – ~500 MWdc

The Sun Streams acquisitions build on a growing presence in Arizona for Longroad, which already owns operating solar projects in the state as well as an existing development portfolio. Longroad has launched the origination effort for the Sun Streams 4 and 5 projects.

Australia >>  5/13/2021 - - Lightsource bp receives planning go-ahead for 400MWdc Wellington North solar farm in ?New South Wales, Australia ?
- The solar farm is adjacen...

Italy >>  5/6/2021 - Lightsource bp and Horizon Firm’s deal brings new solar projects to Sicily and Apulia. ...

United States >>  5/4/2021 - The company's first utility-scale solar plus battery storage project of 460MWAC reaches commercial operation, making Ørsted the first developer to ope...
China >>  4/27/2021 - Recently, Jiangsu Petroleum completed the first photovoltaic power generation demonstration station at Changzhou Jiaze Gas Station. The station uses s...

Colombia >>  4/26/2021 - MPC Energy Solutions NV has signed a power purchase agreement (PPA) for Parque Solar Los Girasoles, a solar PV project under development in Colombia. ...
United States >>  4/22/2021 - Canadian Solar Inc. announced its wholly-owned subsidiary, Recurrent Energy, LLC ("Recurrent Energy"), commenced construction on the 100 MWac Sunflowe...

Gulf Oil and Gas
Copyright © 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.