Renewables developer, owner and operator Longroad Energy announced it has achieved financial close and commenced construction of the 202-MWdc (150-MWac) Umbriel solar project in Polk County, Texas, which is expected to power more than 30,000 households and reduce CO2 emissions by approximately 250,000 metric tons annually.
Texas is the second solar market in the U.S., fueled by a wide range of supportive solar policies and programs. Texan communities have a growing demand for affordable, reliable and sustainable energy.
"Texas continues to be an attractive market for solar development, and we are pleased to achieve financial close and begin construction on Umbriel," said Adam Horwitz, Vice President of Origination and Development Operations at Longroad Energy.
"Umbriel's closing marks over 1.7 GW of total wind and solar projects developed, financed, and built in Texas by the Longroad team."
The solar power generated by the Umbriel project will be purchased by utility company Entergy Texas via a long-term power purchase agreement (PPA).
"Umbriel Solar marks a major milestone, as it will be our first solar resource to come online, further diversifying our portfolio," said Abigail Weaver, Director of Resource Planning and Market Operations at Entergy Texas.
The Umbriel project is Longroad's sixth greenfield renewable energy project in Texas to reach financial close. The development began in 2017, and the project will be operational by the end of this year.
During operations, the project is estimated to generate over $9 million for the Livingston Independent School District and over $4 million in tax revenue for Polk County.