Longroad Energy said it lined up financing and started work on Sun Streams 3, a 285 MWdc PV and 215 MWac / 860 MWh storage project in Maricopa County, Arizona.
Sun Streams 3 is expected to begin commercial operations in 2024, and has a long-term Power Purchase Agreement with Arizona Public Service.
Longroad acquired Sun Streams 3 from First Solar in early 2021 as part of a larger deal that included multiple projects in Arizona (including the 200 MWdc Sun Streams 2 solar project which has been operational since 2021) and other projects which are still in development. First Solar will supply its Series 6+ solar modules for the Sun Streams 3 project.
Debt financing was led by CIBC and KeyBank, and included ANZ, Commerzbank, PNC and Silicon Valley Bank. KeyBanc Capital Markets and CIBC served as coordinating lead arrangers. U.S. Bank is the project’s tax equity investor.
McCarthy Building Cos. will serve as the engineering, procurement and construction contractor.
The 215 MW/ 860 MWh battery energy storage system (BESS) will be delivered by Powin, a U.S.-based energy storage platform provider. The BESS will include SMA inverters and cells from Envision AESC, which will be integrated into Powin’s Stack 750E energy segment. Longroad, along with Powin and NovaSource, will provide long-term operations and maintenance services.
Nextracker is supplying trackers and SunGrow is supplying the solar inverters. Operations and maintenance services for the project will be provided by NovaSource and Longroad’s affiliate Longroad Energy Services.