Longroad Power, a US-based developer, proprietor, and operator, has closed the acquisition of the 98 MW DC Titan Photo voltaic undertaking from Sunpin Holdings LLC. Titan is an working undertaking situated in Imperial County, Calif., that produces sufficient vitality for greater than 30,000 clients in Southern California.
Concurrent with the closing, Nice Bay Renewables made a royalty funding in Titan to fund the acquisition.
Situated within the territory of the Imperial Irrigation District (IID), Titan sells energy to the California Impartial System Operator (CAISO) by means of steady transmission from the IID. It reached industrial operation in December 2020.
“Titan is a sexy undertaking as a result of it permits Longroad to develop our footprint within the vital CAISO market, whereas providing a possibility to optimize the worth of our operational and improvement experience,” stated Charles Spiliotis, chief funding officer of Longroad Power. “That is the primary acquisition since closing our $500 million fairness funding, demonstrating Longroad’s intent to quickly develop our working portfolio. We’re additionally happy to companion once more with Nice Bay Renewables on this declare.”
The addition of Titan expands Longroad’s complete of working photo voltaic initiatives in California to roughly 340 MW DC.
