Longroad Energy secures financing for Serrano PV plant

Longroad Energy has achieved financial closing on Serrano, a 220 MW PV plant with 855 MWh of storage in Arizona, expanding its renewable energy portfolio to over 1.5 GW. The project, developed in partnership with First Solar, utilizes the First Solar’s Series 7 modules and is constructed by McCarthy Building Companies. Powin provides the battery energy storage system, with Nextracker and Sungrow supplying essential components. Serrano’s operation is expected to commence by mid-2025, delivering significant CO2 emissions reduction and revenue for Arizona. Debt financing involved major banks, with Athene Annuity and Life Insurance Company as the tax equity investor.