Nearing completion, Sun Streams 3's battery
storage yard is comprised of one million battery cells spanning 15
acres
ARLINGTON, Ariz., April 24,
2024 /PRNewswire/ -- Arizona Governor
Katie Hobbs, Arizona Corporation
Commission (ACC) Commissioner Lea Marquez
Peterson, and executives from Arizona Public Service (APS),
Longroad Energy (Longroad), McCarthy Building Companies
(McCarthy), and U.S. Bancorp Impact Finance (Impact Finance)
attended a ribbon cutting ceremony today at the Longroad Sun
Streams Complex located in Maricopa
County. The occasion celebrated the progress made to date at
the 6,000+ acre solar and storage complex and the many benefits it
is delivering to Arizona,
including generating clean, solar energy to power 200,000 average
American homes, supporting 1,000 construction jobs and providing
more than $300 million in benefits to
Arizona schools and communities
through its long-term leases with the Arizona State Land Department
and tax remittances.
The Longroad Sun Streams Complex is comprised of three projects
that total 862 MWdc (665 MWac) of solar and 515 MWac / 2060 MWh
storage.
"The Longroad Sun Streams Complex is a powerful example of how
responsible land stewardship, and the ambitious expansion of
renewable energy infrastructure delivers a wealth of benefits to
Arizona citizens," said
Arizona Governor Katie Hobbs. "Revenues of $300 million generated through land leases and
taxes are directly benefitting Arizona schools and communities. The Sun
Streams projects will provide a clean energy source to support grid
reliability and help ensure Arizona citizens stay cool on the hottest
summer days. Additionally, Sun Streams is generating
family-sustaining construction jobs, and supporting a skilled work
force in the clean energy sector that is helping to position our
state as a hub for innovation and sustainability."
"It was an honor to welcome today Governor Hobbs, Arizona officials, and our valued partners to
our flagship Longroad Sun Streams Complex to mark the progress that
has been made with this large-scale renewable energy infrastructure
and its impact on Arizona," said
Paul Gaynor, CEO of Longroad
Energy. "We want to recognize and thank the many officials from
the Arizona State Land Department and Maricopa County who have been instrumental in
advancing the Sun Streams Complex, which represents over
$2 billion of investment. We are
exceedingly proud of what we have collectively been able to
achieve, especially the beneficial impacts we are delivering by
harnessing Arizona's powerful
solar resource to ensure reliable power during the peak summer
months and to reduce emissions, while strengthening the local
economy through our leases, taxes, and the jobs we help to create.
It has been a privilege to work with the state entities and our
partners, and we look forward to continued efforts in Arizona as we make strides on the long road to
a greener future."
"As Arizona continues to diversify our energy mix with clean
generation sources, the Longroad Sun Streams Complex is a great
example of the value and progress that large-scale solar energy is
bringing to the ratepayers and the state at large," said
Commissioner Lea Marquez
Peterson, Arizona Corporation Commission.
"The combination of solar paired with extensive battery storage
will offer a carbon-free energy solution to address summertime peak
demand, supporting energy reliability when Arizonans need it
most."
The total output of the two largest projects in the Complex, Sun
Streams 3 and Sun Streams 4, has been purchased by APS via
long-term Power Purchase Agreements (PPAs). The projects will
help support system reliability in Arizona, particularly during the peak demand
summer months.
"APS provides around-the-clock service our customers count on,
especially during Arizona's
hottest summer days," said Ann
Becker, APS Vice President of Sustainability. "Our
commitment to the Sun Streams Complex project will further
strengthen our diverse supply of energy resources in a reliable,
clean, and cost-effective way. In addition to solar power
generation, the battery storage will capture the sun's energy
to be used during times of the day when customers need it most and
the sun is no longer shining."
McCarthy, whose Renewable Energy team is based in Phoenix, has been the engineering, procurement
and construction (EPC) contractor for the three projects in the
Longroad Sun Streams Complex.
"The impact that Longroad's Sun Streams Complex is having on our
state is significant," said Scott
Canada, Executive Vice President of McCarthy's Renewable
Energy team. "Longroad's investment in Arizona's energy infrastructure goes beyond
providing power for Arizona
residents and businesses – they are helping to create more jobs in
the state's growing energy sector and supporting Arizona families today and into the future.
It's an honor to partner with Longroad, and to be part of the
positive impact that this energy complex is having on Arizona."
Impact Finance has been the sole tax equity investor for the two
largest Sun Streams projects.
U.S. Bancorp Impact Finance Director of Renewable Energy
Investments Darren Van't Hof said, "Our investments
combine purpose and profitability, so we intentionally consider
social and environmental impact in our decision-making. Our
financing of Sun Streams represents one of our most impactful
projects to date providing clean, renewable energy and jobs for
years to come. Longroad has consistently shared our commitment to
the environment. We are pleased to be a part of this project and
collaborate with the people who made it happen."
"We are proud to be part of this financing which is an excellent
demonstration of our social and environmental commitments," said
U.S. Bancorp Impact Finance Chief Investment and Product Officer
Sunil Rajpurohit. "It leverages
our multi-faceted and industry-leading environmental finance
platform by providing a comprehensive suite of products including
both tax equity and debt to accelerate the broader efforts
supporting the transition to a greener economy."
Longroad Sun Streams Complex
The Longroad Sun Streams
Complex is currently comprised of three projects. When complete,
the Complex will include over 950 MWdc of solar and 600 MWac /
2500 MWh storage.
- Sun Streams 2 – 200 MWdc solar project. Operational since
mid-2021.
- Sun Streams 3 – 285 MWdc solar and 215 MWac / 860 MWh storage
project. Commercial operations in 2024.
- Sun Streams 4 – 377 MWdc solar and 300 MWac / 1200 MWh storage
project. Sun Streams 4 is Longroad's largest project to date. It
reached its peak construction milestone in Feb. 2024 with commercial operations expected by
mid-2025.
All three projects utilize responsibly produced modules from
Arizona-headquartered First Solar
and trackers from Nextracker. The battery energy storage systems
(BESS) at both Sun Streams 3 and 4 are provided by Powin.
Comprehensive operations and maintenance services
for Longroad's three projects will be provided by Arizona-based Novasource.
The Sun Streams 3 battery yard, which is nearing completion,
spans more than 15 acres. Approximately one million battery cells
are being installed.
Together, the three Longroad Sun Streams projects represent
1,4000,000 metric tons of avoided CO2 emissions annually
– this is the amount of CO2 that would be generated by
four natural gas-fired power plants.
For more information, visit the Longroad Sun Streams Complex
webpage.
About Longroad Energy Holdings, LLC
Founded in 2016,
Longroad Energy Holdings LLC is focused on renewable energy project
development, operating assets, and services. Longroad has developed
or acquired 5.4 GW of renewable energy projects across the United States and has raised over
$14.5 billion of equity, debt, and
tax equity to support completion of its portfolio. Today, Longroad
owns over 3.5 GW of wind, solar, and storage projects and operates
and manages a total of 5.5 GW on behalf of Longroad and third
parties. Longroad is owned by the NZ Superannuation Fund, Infratil
Limited, MEAG MUNICH ERGO Asset
Management, and Longroad Energy Partners, LLC.
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SOURCE Longroad Energy Management, LLC