First Solar sells 900 MW PV portfolio to Longroad Energy
Post date: 17/02/2021 - 09:04
US-based renewable energy developer, owner, and operator Longroad Energy Holdings acquires the solar projects Sun Streams 2, 4, and 5, which total approximately 900 MW plus the potential for 1 to 2 GWh of battery storage from First Solar Inc. Longroad has closed the acquisition of the »Sun Streams 2« (200 MW) project located in Maricopa County, Arizona. It is being constructed by McCarthy Building Companies and is expected to be operational June 2021. Its energy production is sold under a long-term contract.
»Sun Streams 4« (about 200 MW) and »Sun Streams 5« (about 500 MW) are both development projects with target operational dates of 2022 and 2024, respectively. They are currently uncontracted and uniquely positioned to accommodate a variety of offtake structures, with or without storage.
Longroad will power its Sun Streams portfolio with First Solar's technology and has executed purchase agreements for 900 MW of Series 6 modules, of which 700 MW represent new bookings for First Solar.
Currently, Longroad owns 1.6 GW of operational and under construction wind and solar projects across the United States. Its services affiliate, Longroad Energy Services, operates and manages 3.0 GW in total comprised of these projects plus 1.4 GW of wind and solar projects on behalf of third parties. Longroad is owned by the New Zealand Superannuation Fund, Infratil Limited, and Longroad's management team.