Longroad Energy closes financing for 111MW Sun Pond solar project
Author: PPD Team Date: December 5, 2024
US-based renewable energy developer Longroad Energy has reached the financial close for the Sun Pond project, a 111MWdc solar and 85MWac/340MWh storage initiative located in Maricopa County, Arizona.
The project, part of the Longroad Sun Streams complex, has begun construction, with commercial operations expected by mid-2026.
The Sun Pond project will generate electricity for the city of San Jose, California, and Ava Community Energy under long-term power purchase agreements. The project is expected to power 35,000 American homes.
Fluence will supply the 85MWac/340MWh battery energy storage system (BESS), while Nextracker will provide solar trackers and Sungrow will deliver the solar inverters.
NovaSource Power Services and Longroad Energy Services will manage the operations and maintenance for the BESS.
Longroad Energy CEO Paul Gaynor highlighted that the project marks over 970MWdc of solar capacity under construction in Maricopa County, representing $2 billion in investments.
Debt financing for the project was led by US Bancorp Impact Finance, with participation from Commerzbank and CIBC.
The project will also create 200 jobs during construction, with McCarthy Building Companies acting as the EPC contractor.
