Longroad Energy, a U.S.-based renewable energy developer, owner and operator, has announced the financial close and commencement of construction of Umbriel Solar, a 202 MW DC (150 MW AC) PV project located in Polk County, Texas.
Development of Umbriel began in 2017, and the project is expected to reach commercial operations by the end of this year. The project’s total output – enough to power more than 30,000 homes – will be purchased by Entergy Texas Inc. (ETI) via a long-term power purchase agreement.
The project will be constructed by McCarthy Building Companies. During construction, Umbriel is projected to employ close to 300 people.
The major project vendors include First Solar (Series 6/6+ modules), Power Electronics (PV inverters) and Nextracker (solar trackers). Operations and maintenance services will be provided by NovaSource and by Longroad’s affiliate, Longroad Energy Services.
The debt facilities were provided by Zions Capital Markets as a coordinating lead arranger and administrative agent, Silicon Valley Bank as a coordinating lead arranger, and Rabobank as a joint lead arranger. Longroad separately arranged tax equity for Umbriel.
Umbriel is Longroad’s sixth greenfield renewable energy project in Texas to reach financial close and is the company’s first project in Texas’s MISO footprint. Umbriel’s closing marks over 1.7 GW total wind/solar projects developed, financed and built in Texas by the Longroad team.
