Arizona Governor Hobbs Attends Ceremony at Longroad Energy's Sun Streams Complex, Celebrating Expansion of Renewable Energy, Family Supporting Jobs and Community Benefits

PR Newswire

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 CO ₂ emissions annually – this is the amount of CO ₂ 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.