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Serrano symbolizes the enduring collaboration between First Solar, a solar manufacturer based in the United States, and Longroad. This project marks the fourth instance in Arizona where Longroad has provided financing for installations utilizing First Solar’s environmentally conscious modules within a span of four years. Notably, Serrano represents Longroad’s inaugural utilization of thin-film Series 7 modules, showcasing their commitment to embracing innovative solar technologies.

Georges Antoun, the Chief Commercial Officer at First Solar, expressed congratulations to Longroad for the advancement of the Arizona project. He emphasized that the project’s reliance on American-made solar technology will not only contribute to the growth of U.S. manufacturing but also generate employment opportunities. Antoun further highlighted the successful closure of financing by Longroad as a testament to the project’s bankability and the reliability of the <a href=”www.solarepoch.com“>solar module</a > technology driving its success.

The debt financing for the project was spearheaded by CIBC and Societe Generale, with participation from ANZ, PNC, Commerzbank AG, and U.S. Bancorp Impact Finance. In this process, CIBC took on multiple roles including Coordinating Lead Arranger, Administrative Agent, Collateral Agent, and Green Loan Coordinator, while Societe Generale acted as the Coordinating Lead Arranger. U.S. Bancorp Impact Finance played a key role as Joint Lead Arranger and Depositary Bank. Additionally, Athene Annuity and Life Insurance Company, an affiliate of Apollo Global Management, served as the project’s tax equity investor and received advisory support from Apterra Infrastructure Capital.

McCarthy Building Companies (McCarthy) has been appointed as the engineering, procurement, and construction (EPC) contractor for the Serrano project. This marks McCarthy’s fourth collaboration with Longroad in constructing large-scale solar facilities in Arizona. The project is anticipated to create employment opportunities for more than 300 individuals throughout the construction phase. McCarthy is committed to utilizing registered apprentices and ensuring that all workers on the project receive prevailing wages, in alignment with the Inflation Reduction Act (IRA).

The project will benefit from the expertise of Nextracker, who will be supplying the trackers, and Sungrow, who will be supplying the solar inverters. To ensure smooth operations, NovaSource Power Services and Longroad’s affiliate, Longroad Energy Services, have been entrusted with the responsibility of providing comprehensive operations and maintenance services for the project.