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Longroad Energy - Leading the charge in renewable energy - CoBank Site
Leading the charge in renewable energy
For over 20 years, the Longroad Energy team has been at the forefront of renewable energy, shaping the landscape for wind, solar and battery storage projects across the United States.
Longroad’s portfolio now exceeds 3.7 gigawatts of generation capacity, with several major projects under construction. This includes the pending completion of its most extensive project to date, a $1 billion solar and energy storage project in Maricopa County, Arizona.
The Sun Streams 4 project is Longroad’s largest-ever solar project, projected to generate 377 megawatts of solar capacity and 1,200 megawatt-hours of battery storage capacity. The project will become fully operational in the second quarter of 2025.
“This is the biggest project Longroad has taken on, and we couldn’t be more excited,” said Paul Gaynor, CEO and co-founder of Longroad. “Sun Streams 4 will provide a huge economic benefit to Arizona and its residents,” Gaynor said.
We’ve been working with CoBank for many years, and throughout the relationship, we’ve gained a lot of trust and respect for the bank.
Electrical power from Sun Streams 4 will feed approximately 120,000 homes and generate over 200 local jobs during construction. And through long-term leases with the state and tax remittances, it will contribute more than $100 million in revenue for Arizona schools and communities. The project also includes funding for numerous wildlife corridors, designed to protect the habitats of native species.
“Sun Streams 4 is a large, complex project, and we couldn’t implement something of this scale without our trusted and seasoned partners,” Gaynor said. “Over the years, we’ve raised a significant amount of project finance debt and tax equity from financial institutions to support our growth. And CoBank has been one of our trusted partners,” Gaynor said.
Longroad teamed up with several financial institutions to facilitate the project and CoBank was a joint lead arranger—committing $155 million of the $1 billion in total credit facilities through its project finance lending services.
“We’ve been working with CoBank for many years, and throughout the relationship, we’ve gained a lot of trust and respect for the bank. They always execute and the money is always there. They also understand the industry—we especially appreciate their expertise in renewable energy projects,” Gaynor said.
As Longroad reaches the finish line on Sun Streams 4, the company is looking forward to the future solar and battery storage projects in its pipeline.
“All of our projects are innovative by nature and provide significant contributions to the U.S. economy, especially assisting with employment opportunities and state taxes. We look forward to creating more renewable energy options with CoBank by our side,” Gaynor said.
