Longroad Energy, a U.S.-based renewable energy developer, owner, and operator, has closed on the acquisition of the 98 megawatts defined conditions (MWDC) Titan Solar project from Sunpin Holdings.
Titan is an operating project in Imperial County, Calif., that produces enough energy for more than 30,000 customers in Southern California.
Simultaneous with the closing, Great Bay Renewables made a royalty investment in Titan to finance the acquisition.
Located in the Imperial Irrigation District (IID), Titan sells power into the California Independent System Operator (CAISO) via firm transmission from IID. It reached commercial operations in December 2020.
“Titan is an attractive project as it allows Longroad to expand our footprint in the important CAISO market, while offering an opportunity to optimize value with our operations and development expertise,” said Charles Spiliotis, Longroad Energy’s CIO. “It is the first acquisition since closing our $