Longroad Energy's 108 MWdc Foxhound Solar Project to be Acquired by Dominion Energy
- Longroad's first PV project in Virginia has begun construction.
- First utility-scale solar project to receive Virginia Pollinator-Smart biodiversity certification.
BOSTON, April 11, 2023 /PRNewswire/ -- Longroad Energy, a U.S. based renewable energy developer, owner, and operator, announced today the sale of its 108 MWdc (83 MWac) Foxhound Solar project to Dominion Energy. Foxhound, located in Halifax County, Virginia, has reached full notice to proceed and has begun construction. The project has been in development for six years and will produce enough clean energy to power more than 17,000 homes. Financial close of the Foxhound acquisition is expected upon mechanical completion of the project which is anticipated for January 2024.
"Foxhound marks Longroad's first solar project in Virginia and our first greenfield development project in PJM," said Paul Gaynor, CEO of Longroad Energy. "We are pleased that Dominion Energy will be acquiring Foxhound to help support the sustainability goals of its key customers and renewable energy objectives set out in the Virginia Clean Economy Act. The project will be an important resource for Halifax County, and we are proud of Foxhound's certification as Virginia Pollinator-Smart for its biodiversity commitments."
The project has long-term Power Purchase Agreements (PPAs).
KeyBank N.A. and HSBC served as lenders. Balch & Bingham served as Longroad's counsel on the transaction.
Biodiversity
Foxhound is the first-utility scale project to be certified as Virginia Pollinator-Smart, a biodiversity program overseen by the Virginia Department of Conservation and Recreation (DCR) and the Virginia Department of Environmental Quality (DEQ). As part of its certification, the Foxhound project will use native plant species under the solar panels and a pollinator-friendly seed mix around the arrays. The project's use of pollinator plant species will help support beneficial native insect, bird and other wildlife populations while improving soil stabilization and water retention among many other ecosystem services.
"Planting species native to Virginia – whether at our state parks, on a solar energy facility, or in your backyard – helps to preserve the Commonwealth's special natural heritage and biodiversity," said Virginia DCR Director Matt Wells. "The benefits of Foxhound's pollinator habit – both around the array and under the panels – will have a positive impact both on the project and the surrounding area. We commend Longroad Energy's commitment to supporting biodiversity by being the first utility-scale solar project to achieve Virginia Pollinator-Smart certification."
In addition to generating property taxes for Halifax County and the State of Virginia, Foxhound has also made a contribution of $200,000 to Halifax County that will be used to support county services like Fire/EMS and other economic development efforts.
U.S. based First Solar is supplying Foxhound with its domestically made Series 6+ solar modules. Nextracker is supplying trackers for the project and TMEIC is supplying the solar inverters. The project will interconnect near the Clover Power Station. Foxhound is projected to employ 150-200 workers during peak construction.
To more accurately inventory the carbon and greenhouse gas impacts of the project, Longroad engaged a third party to perform a robust assessment of Foxhound. The independent analysis found that the project represents approximately 45,000 metric tons of avoided CO2 emissions annually – the equivalent of taking more than 10,000 cars off the road each year for as long as the project operates.
Longroad extends its thanks to Scott Simpson, Halifax County Administrator, and his office for their support and collaboration through the development and construction of the Foxhound project.
About Longroad Energy Holdings, LLC
Founded in 2016, Longroad Energy Holdings, LLC is focused on renewable energy project development, operating assets, and services. Longroad has developed or acquired 4.3 GW of renewable energy projects across the United States and has raised $10 billion of equity, debt, and tax equity to support completion of its portfolio. Today, Longroad owns over 2.4 GW of wind, solar, and storage projects and operates and manages a total of 4.0 GW on behalf of Longroad and third parties. Longroad is owned by the NZ Superannuation Fund, Infratil Limited, MEAG MUNICH ERGO Asset Management, and Longroad Energy Partners, LLC.
Web: www.longroadenergy.com
Twitter: @LongroadTweet
LinkedIn: linkedin.com/company/longroad-energy-partners
SOURCE Longroad Energy Management, LLC
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