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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