Longroad Energy has reached financial close and started construction on 1000 Mile Solar, a 400MWdc (300MWac) project in Yoakum County, Texas. The facility is expected to begin commercial operations in 2026.
The US-based renewable energy developer, owner and operator finalised a long-term offtake agreement with Meta in late 2024.
Under the Environmental Attributes Purchase Agreement, Meta will settle financially for the project’s entire energy output, which will be delivered into the Southwest Power Pool (SPP) grid to support its target of powering data centres with 100% clean energy.
“1000 Mile Solar is our seventh renewable energy project in Texas and a milestone project for Longroad,” said Paul Gaynor, CEO of Longroad Energy.
“1000 Mile is Longroad’s first project in the SPP region and brings us to 2.1 GW of successfully developed utility-scale projects in Texas in all three RTO regions, ERCOT, MISO and SPP. Thank you to Meta, our banking partners, our contractor SOLV, our suppliers, and to Yoakum County officials for their roles in helping us advance 1000 Mile.”
Morgan Stanley Renewables has committed tax equity financing, while debt was led by Societe Generale and CIBC, joined by ANZ, Barclays and Key Bank.
“We are excited to partner with Longroad for the first time on its largest solar project developed – a landmark transaction for the company,” said Jorge Iragorri of Morgan Stanley.
“SG is thrilled to have played a lead role … to raise the debt financing for 1000 Mile Solar,” added Ahmed Maqsood of Societe Generale.
CIBC’s Peter O’Neill said the bank’s involvement demonstrated its “commitment to advancing renewable energy and the energy transition in the U.S.”
The project, Longroad’s fifth solar facility in Texas, will use First Solar’s Series 7 photovoltaic modules. SOLV Energy is providing engineering, procurement and construction services, with over 400 jobs anticipated at peak construction. Nextracker will supply tracker equipment.
According to Longroad, 1000 Mile Solar is expected to reduce regional emissions by about 475,000 metric tonnes of CO2 equivalent each year and contribute more than $18m in local tax revenue over its lifetime.
