US-based renewable developer Longroad Energy has announced the acquisition of three solar projects, totalling 900MW DC capacity, from First Solar.
The acquired projects, Sun Streams 2, 4, and 5, have the potential for 1-2GWh of battery storage. The nameplate solar capacity of Sun Streams 2 and 4 is 200MW DC, while Sun Streams 5 has 500MW DC capacity.
Longroad has already closed the acquisition of Sun Streams 2, which is located in Maricopa County, Arizona. Acquisition of Sun Streams 4 and 5 will come subject to regulatory approvals and customary closing conditions.
Developer McCarthy Building Companies has started construction on Sun Streams 2. The solar farm will become operational in June this year.
The clean energy generated by Sun Streams 2 is sold under a long-term contract.
Meanwhile, Sun Streams 4 and 5 are in development and will come online by 2022 and 2024, respectively. Both projects are currently uncontracted.
Longroad will use First Solar’s solar technology in its Sun Streams portfolio and has executed purchase agreements for 900 MW DC of Series 6 modules.
Longroad Energy CEO Paul Gaynor said: “Arizona is an important location for Longroad as we seek to bring competitive renewable projects to power buyers in the Western US.
“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 the California Independent Systems Operator 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 companies have not disclosed financial details of the deal.