MetLife and Longsol Holdings US Inc., a private owner and operator of solar projects in the U.S. and Europe, have purchased the 30 MW Webberville solar project from SunEdison. The project, located in Texas, was activated in December 2011.
SunEdison completed the project and sold it to MetLife and Longsol Holdings for an undisclosed amount. The project was constructed by RES Americas, which will operate and maintain the solar farm for the next five years. After that time, SunEdison will oversee the operations and maintenance of the Webberville solar project for 20 years.
The utility-scale solar project was made possible through a 25-year solar power purchase agreement with Austin Energy, which will purchase the electricity and environmental attributes generated by the project at a fixed rate over the life of the system.