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Facebook Makes Tax Equity Investment In Texas Solar Project; Shell Signs PPA With Project

May 30,2019



Longroad Energy announced today the financial close and start of construction of its Prospero Solar project (nameplate capacity 379 MWdc) in Andrews County, Texas with a total financing package of approximately $416 million.

Facebook will be the sole tax equity investor for the project. Longroad said that, "Facebook has been a global leader in the procurement of clean energy, but this will be the company's first direct investment in a renewable energy project."

Shell Energy North America (SENA) signed a 12-year Power Purchase Agreement for the project's power off-take

Both Facebook and Shell will share the renewable energy attributes generated by the project's energy production.

Tags:
Longroad Energy   Texas   Solar   Facebook   Shell Energy North America   Shell   Contract awards  

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