Longroad Energy, a renowned renewable energy company, has reportedly announced that it is acquiring four new solar projects from U.S. based solar panel manufacturer, First Solar. First Solar had previously announced the deal without identifying the purchasing party.
The four solar projects have a combined capacity of approximately 160 MWAC. Supported by a long-term PPA (power purchase agreement) with a CCA (Community Choice Aggregator), MCE (Marin Clean Energy), the Little-Bear Solar project portfolio is located in Fresno, California.
The solar projects, which range between 50 MWAC and 20 MWAC are expected to reach completion by the end of fourth quarter Q4 of financial year 2020. The projects are designed to make a low impact on the local water resources, land, and environment.
They would also be creating approximately 500 new job opportunities during the construction phase of the proposed solar facility. The Little Bear Solar project is also expected to be beneficial to the local businesses.
Longroad Energy COO, Michael Alvarez, stated that the company is thrilled to be working alongside First Solar to provide cleaner, reliable solar power-based electricity to the Bay area communities. Customers of MCE have made the crucial choice to use carbon-free electricity. Considering that, it would only be fitting that the projects get powered by solar modules that boast of the lowest carbon footprint.
Alvarez further added that, supported by long-term PPAs, developed responsibly, and powered by an innovative technology that was designed in America, the projects are welcome additions to the company’s growing U.S. portfolio.
First Solar CCO, Georges Antoun stated that CCAs are making crucial contributions towards the decarbonization and democratization of California’s electricity. The company could not have asked for a better partner than Longroad to deliver on its first deal within this crucial segment.
According to reports, the financial details relating to the takeover of these solar projects have not been announced yet.