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Longroad closes financing on 220MW solar-plus-storage project in Arizona

March 14, 2024
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Longroad closes financing on 220MW solar-plus-storage project in Arizona
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Sun Streams 2, Longroad Energy’s 200 MWdc solar project located in Maricopa County, Arizona.completed term financing.Longroad’s latest Arizona project will include a 214MWac/855MWh lithium-ion (Li-ion) battery energy storage system (BESS). Image: Longroad Energy

Longroad Energy has achieved financial close on a 220MW solar PV and battery storage project in Arizona, US, on which construction is already underway.

Spanning portions of Arizona’s Pinal and Pima Counties, the Serrano project will be equipped with thin-film cadmium telluride (CdTe) solar PV modules manufactured domestically in the US by First Solar.

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First Solar’s new Series 7 modules will be used, marking the first Longroad-financed project to use them as well as being the fourth large-scale solar project in Arizona overall in a partnership between the two companies over the past four years.

The project will also feature a 214MWac/855MWh lithium-ion (Li-ion) battery energy storage system (BESS).

Solar tracker maker Nextracker will supply the PV plant’s tracking systems, while solar inverter (and latter battery storage) manufacturer Sungrow will supply the PV inverters.

Meanwhile, the BESS will be provided by US-headquartered system integrator and manufacturer Powin Energy, using Powin’s Centipede modular battery storage platform, which enables the connection of dozens of units to make multiple hundred-megawatt installations.

The BESS will use power conversion system (PCS) equipment made by solar inverter manufacturer SMA, as well as battery cells made by AESC. Powin signed a 2GW supply deal with SMA in 2022.

Powin executive VP Danny Lu spoke to Energy-Storage.news Premium recently at the Energy Storage Summit EU in London, UK. The interview, published this morning, covers topics that include the integrator’s approach to manufacturing, increasing energy density, fire safety, and the 1,680MWh flagship Waratah Super Battery project for developer Akaysha Energy in New South Wales, Australia.  

Energy from the Serrano project will be sold under a long-term power purchase agreement (PPA) to utility Arizona Public Service (APS). Debt financing is coming from a number of lenders, led by CIBC and Societe Generale, while Apollo Global Management affiliate Athene Annuity and Life Insurance Company is the tax equity investor.

To read the full version of this story, visit our sister site Energy-Storage.news.

This special webinar will look at one of the most important changes impacting PV manufacturing today; how to establish and sustain new facilities around the world. For more than two decades, policy-makers have grappled with the challenges of nurturing domestic manufacturing sectors. Many countries have tried to create domestic sectors: Japan, Taiwan, South Korea, India, Europe and the U.S. But success stories have been rare. Mistakes seem to be repeated. And all the while, Chinese dominance of the industry has only increased. However, in the past 2-3 years, new drivers have emerged that suggest the dream of a global PV manufacturing ecosystem could be a reality. Join us as we shed light on this.

PV Tech has been running PV ModuleTech Conferences since 2017. PV ModuleTech USA, on 21-22 May 2024, will be our third PV ModulelTech conference dedicated to the U.S. utility scale solar sector. The event will gather the key stakeholders from solar developers, solar asset owners and investors, PV manufacturing, policy-making and and all interested downstream channels and third-party entities. The goal is simple: to map out the PV module supply channels to the U.S. out to 2025 and beyond.

San Francisco Bay Area, USA

PV Tech has been running an annual PV CellTech Conference since 2016. PV CellTech USA, on 8-9 October 2024 is our second PV CellTech conference dedicated to the U.S. manufacturing sector. The event in 2023 was a sell out success and 2024 will once again gather the key stakeholders from PV manufacturing, equipment/materials, policy-making and strategy, capital equipment investment and all interested downstream channels and third-party entities. The goal is simple: to map out PV manufacturing in the U.S. out to 2030 and beyond.

9am EDT / 1pm GMT / 2pm CET

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Copyright for syndicated content belongs to the linked Source : PV Tech – https://www.pv-tech.org/longroad-energy-financing-220mw-solar-plus-storage-project-arizona/

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