Longroad Energy closes debt financing for solar, storage project

By Marisa Wong

Los Angeles, March 12 – Longroad Energy closed financing of Serrano, its 220 MWdc solar and 214 MWac / 855 MWh storage project in Pinal and Pima Counties, Ariz., according to a press release.

Debt financing was led by CIBC and Societe Generale and included ANZ, PNC, Commerzbank AG and U.S. Bancorp Impact Finance.

CIBC acted as coordinating lead arranger, administrative agent, collateral agent and green loan coordinator. Societe Generale acted as coordinating lead arranger. U.S. Bancorp Impact Finance was joint lead arranger and depositary bank.

Athene Annuity and Life Insurance Co., an affiliate of Apollo Global Management, is the project’s tax equity investor and was advised by Apterra Infrastructure Capital.

Serrano has commenced construction, and commercial operation for Serrano is expected by mid-2025.

Longroad is a Boston-based renewable energy project development company.

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