Longroad Energy Development Update – Sun Streams 4

Infratil Limited 5 Market Lane, PO Box 320, Wellington, New Zealand Tel +64-4-473 3663 www.infratil.com

2 November 2023


Longroad Energy Development Update – Sun Streams 4


Infratil advises that U.S. based renewable energy developer, owner and operator, Longroad
Energy, has achieved financial close and commencement of construction of Sun Streams 4,
its 377 MWdc PV and 300 MWac / 1200 MWh storage project.
Sun Streams 4 is Longroad’s
largest solar and storage project to date and is the company’s third project in its Sun Streams
complex based in Maricopa County, Arizona. Commercial operations for Sun Streams 4 are
currently expected by mid-2025.

Sun Stream 4’s total output, enough to power 120,000 homes, will be purchased by Arizona
Public Service (‘APS’) via a long-term Power Purchase Agreement (‘PPA’). The project will
help support system reliability in Arizona, particularly during the peak demand summer
months.

“Longroad continues to make significant strides with our flagship Sun Streams portfolio in the
important Arizona market,” said Paul Gaynor, CEO of Longroad Energy. “A landmark project
for us, Sun Streams 4 has the distinction of being Longroad’s largest project to date by both
megawatts and investment capital, and one of our first projects to incorporate provisions from
the historic Inflation Reduction Act. The project’s other notable attributes include our second
PPA negotiated with APS, one of U.S. Bancorp Impact Finance’s largest ever tax equity
investments, and our third project being built by McCarthy in the Sun Streams cluster of
projects. Longroad is grateful to APS, our lenders led by CIBC, U.S. Bancorp Impact Finance,
and to the state and county authorities for their ongoing support.”

The project is part of the Sun Streams portfolio that Longroad acquired from First Solar in
early 2021. In addition to Sun Streams 4, the portfolio includes:

• Sun Streams 2 – 200 MWdc solar project which has been operational since mid-2021.
• Sun Streams 3 – 285 MWdc PV and 215 MWac / 860 MWh storage project currently
under construction with commercial operations expected in 2024.


For more information:

https://www.longroadenergy.com/longroad-energy-closes-financing-of-sun-streams-4-a-377-
mwdc-solar-and-300-mwac-1200-mwh-storage-project/


Enquiries should be directed to:

Mark Flesher
Investor Relations
Email: mark.flesher@infratil.com

Infratil Limited 5 Market Lane, PO Box 320, Wellington, New Zealand Tel +64-4-473 3663 www.infratil.com


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 4.9 GW
of renewable energy projects across the United States (including 5 projects totalling 1.6 GW
which are currently under construction) and has raised over $12.8 billion of equity, debt, and
tax equity to support completion of its portfolio. Today, Longroad owns over 3.1 GW of wind,
solar, and storage projects and operates and manages a total of 5.0 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.