1. Longroad Energy has reached financial close on the Serrano solar-plus-storage project in Arizona.
2. The project includes a 220MW solar facility and a 214MW/855MWh battery energy storage system.
3. The project is expected to commence commercial operations in mid-2025 and will supply electricity to Arizona Public Service.
Longroad Energy has achieved financial close on the Serrano solar-plus-storage project in Arizona, which includes a 220MW solar facility and a 214MW/855MWh battery energy storage system. The project is expected to come online by mid-2025 and will supply electricity to Arizona Public Service under a long-term power purchase agreement. Athene Annuity and Life Insurance Company, part of Apollo Global Management, is the tax equity investor for the project. CIBC and Société Générale led the debt financing for the project, with support from other financial institutions. First Solar will supply the solar modules for the project, while Powin will supply the energy storage system. McCarthy Building Companies is responsible for the engineering, procurement, and construction of the project. Longroad Energy CEO Paul Gaynor expressed pride in supporting American manufacturing and the domestic solar supply chain. In September 2023, First Solar secured a contract to supply an additional 2GW of solar modules for Longroad Energy.