Longroad breaks ground on 152MWdc Maine PV project featuring First Solar modules, Nextracker trackers

Facebook
Twitter
LinkedIn
Reddit
Email
Longroad Energy’s Monmouth solar project. Image: Longroad Energy.

US renewable energy developer Longroad Energy has commenced construction on the 152MWdc Three Corners solar project in Maine. Upon completion, it is expected to be the largest solar PV project in the state.

EDF Renewables has agreed a long-term power purchase agreement (PPA) for the entirety of the output from the Three Corners project, to supply its corporate customers in New England. It’s the largest corporate PPA signed in the New England power grid to date.

The US$200 million project will also supply capacity to the ISO-New England system, the non-profit organisation that manages the operation of New England’s grid and transmission network.

Three Corners will use First Solar’s Series 6 modules, Nextracker’s single-axis tracker technology and Power Electronics inverters.

“US$200 million projects do not come along every day in Maine,” said Matt Keans, chief development officer for Longroad Energy. “This project will be an important resource for Maine to help meet its clean energy objectives and will deliver significant economic benefits to Kennebec County and the region.”

The project was financed by KeyBank and US Bank. Both acted as lenders, whilst US Bank was sole tax equity investor.

“US Bank has worked with Longroad Energy on four prior tax equity investments, and we’re excited to expand our support as lender as well on this project,” said Colin Witherspoon, business development officer with US Bancorp.

In August, Longroad Energy received a US$500 million investment to shift its business model to owning renewables projects, rather than its previous develop-to-sale model. It also said the investment would allow it to scale its 1.5GW solar portfolio to over 8.5GW of solar, storage and wind in the next five years.

In June, the company made an equity investment in distributed generation developer Valta Energy.

14 March 2023
PV CellTech will be return to Berlin on 14-15 March 2023 and looking at the competing technologies and roadmaps for PV cell mass production during 2024-2026.
6 June 2023
Join us in Napa to unlock the key to reliable PV module supply to the U.S. market in 2023 & 2024. We'll also be gathering the main players in the US solar market for some wine tasting!
28 June 2023
Join us in London for 2 days as we look at the UK’s new landscape for utility & rooftop solar. Understand the new opportunities within this GW-plus annual market!

Read Next

November 25, 2022
IDB Invest and South American financial group Bancolombia will provide developer Solarpack with a COP656 billion (US$133 million) loan to support the development of two solar PV projects in Colombia.
November 25, 2022
Ukrainian energy company DTEK has said it is ready to restart operations at the 10MW Tryfonivska solar power plant in the liberated Kherson region.
November 25, 2022
JinkoSolar, the global PV manufacturer, will supply approximately 522MW of its Tiger Neo 78 Cell modules to the Brazilian Santa Luzia utility PV project, one of the largest in the country.
November 24, 2022
France-headquartered renewables provider Voltalia has signed a 350MW, 15-year solar power purchase agreement (PPA) with Renault Group.
November 24, 2022
Canadian investor Ontario Teachers’ Pension Plan Board has signed an agreement to invest US$805 million in a convertible equity portfolio financing with NextEra Energy Partners to help it acquire a 2GW portfolio of solar, storage and wind assets across the US.
November 24, 2022
The North American subsidiary of utility Enel has launched a clean energy retail initiative in selected US states, beginning with Texas, to allow its commercial and industrial (C&I) customers to purchase renewable energy directly without entering into a power purchase agreement (PPA).

Subscribe to Newsletter

Upcoming Events

Solar Media Events
November 29, 2022
Malaga, Spain
Solar Media Events
February 22, 2023
Leonardo Royal Hotel London Tower Bridge
Solar Media Events
March 14, 2023
Berlin, Germany
Solar Media Events
March 21, 2023
Lisbon, Portugal
Solar Media Events
June 6, 2023
Napa, USA