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The Sun Pond project will begin commercial operations by mid-2026.
US-based renewable energy developer Longroad Energy has announced the financial close of the Sun Pond project, a 111MWdc [megawatts defined conditions] solar and 85MWac [megawatts alternating current]/340MWh [megawatt hours] storage initiative in Maricopa County, Arizona.
The Sun Pond project, part of the Longroad Sun Streams complex, has begun construction, with commercial operations expected by mid-2026.
The electricity generated by Sun Pond will be purchased by the city of San Jose, California, and Ava Community Energy through long-term power purchase agreements.
The project will produce enough energy to power 35,000 American homes.
The 85 MWac/340 MWh battery energy storage system (BESS) for Sun Pond will be supplied by US-based Fluence.
The BESS will feature US-made inverters from EPC Power, with cells from AESC integrated into the Fluence Gridstack system.
Longroad, in collaboration with Fluence and NovaSource Power Services, will provide long-term operations and maintenance services for the BESS.
Nextracker will supply trackers for the project, while Sungrow will provide the solar inverters. NovaSource Power Services, along with Longroad Energy Services, an affiliate of Longroad, will be responsible for managing the full range of operations and maintenance services.
Longroad Energy CEO Paul Gaynor stated: “With the financial close and commencement of construction of Sun Pond, Longroad has achieved more than 970 MWdc of financed and under-construction solar projects in Maricopa County representing $2 billion in investment. The project exemplifies our commitment to delivering meaningful benefits to energy buyers and communities.”
Sun Pond continues the collaboration between Longroad and Arizona-based solar manufacturer First Solar. It is the fifth project in Arizona using First Solar’s photovoltaic technology financed by Longroad since 2021.
First Solar chief commercial officer Georges Antoun stated: “We are thrilled that our relationship with Longroad continues to grow in strength and that our modules will not simply power Sun Pond, but the communities it will serve.
“As America’s solar company, we are proud of our technology’s role in delivering cost-competitive electricity to support our nation’s economic growth and energy security.”
Debt financing for Sun Pond was led by US Bancorp Impact Finance, with participation from Commerzbank and CIBC.
US Bancorp Impact Finance served as coordinating lead arranger, administrative agent, collateral agent and depositary, while CIBC acted as joint lead arranger and green loan coordinator.
US Bancorp Impact Finance is also the tax equity investor for the project.
The engineering, procurement and construction contractor for Sun Pond is McCarthy Building Companies. The project will create 200 jobs during construction and McCarthy will employ registered apprentices and pay prevailing wages in compliance with the US Inflation Reduction Act.
Sun Pond is part of the Longroad Sun Streams complex, which includes three additional projects. With Sun Pond, the complex will have a total capacity of 973MWdc of solar and 600MWac/2,400MWh storage. |
