Sun Streams 3 will generate more than $65 million in revenue for Arizona schools through long-term leases with the Arizona State Land Department. The project represents 460,000 metric tons of avoided CO 2 emissions annually, or the equivalent of taking ~100,000 cars off the road for as long as the project operates. ![]() McCarthy Building Companies, which also built the adjacent Sun Streams 2 project, was selected as the engineering, procurement and construction (EPC) contractor on the project. “Investments like this are one way we can do our part and we’re proud to partner again with Longroad to expand access to clean energy.”ĭuring construction, Sun Streams 3 is projected to employ over 300 people. “We believe everyone has a role to play in creating a sustainable future and helping reduce the impacts of climate change,” said Eric Barr, business development officer with U.S. Bank is the project’s tax equity investor. KeyBanc Capital Markets and CIBC served as Coordinating Lead Arrangers. Operations and maintenance services will be provided by NovaSource and Longroad’s affiliate Longroad Energy Services.ĭebt financing was led by CIBC and KeyBank, and included ANZ, Commerzbank, PNC and Silicon Valley Bank. Nextracker is supplying trackers for the project and SunGrow is supplying the inverters. The BESS will include SMA inverters and cells from Envision AESC. The battery energy storage system (BESS) will be delivered by Powin, a U.S.-based energy storage system provider. Sun Streams 2 came online in 2021 and has a 20-year revenue agreement with Microsoft for the project’s energy, renewable energy credits, and offtake capacity, which will support a Microsoft datacenter region known as West US 3.įirst Solar is supplying Series 6+ solar modules for the Sun Streams 3 project. Longroad acquired Sun Streams 3 from First Solar in early 2021 as part of a transaction that included multiple projects in Arizona, including the 200 MWdc Sun Streams 2 solar project. Sun Streams 3 will provide enough electricity to power 90,000 homes, which will be purchased by APS under a long-term power purchase agreement. Longroad believes the 2022 Inflation Reduction Act will enable further development in the state and provide significant benefits for utilities and ratepayers,” said Paul Gaynor, chief executive officer of Longroad Energy. “Arizona is an important growth market, and Longroad currently has a 4 GW operating and development portfolio in the state. Located in Maricopa County, Arizona, the 285 MWdc solar and 215 MWac / 860 MWh storage project will be the largest solar-plus-storage project in Longroad’s operational portfolio. Longroad Energy, a renewable energy developer, announced the financial close and commencement of construction of the Sun Streams 3 project.
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