Longroad Energy, First Solar enter deal for 900 MWdc solar portfolio in Arizona
Longroad Energy Holdings (Longroad), a US-based renewable energy developer, owner, and operator has signed the acquisition deal 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 in Arizona.
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.
Longroad closed the acquisition of Sun Streams 2. The closing of Sun Streams 4 and 5 is subject to regulatory approvals and customary closing conditions.
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