M&A Deal Summary

Longroad Energy Holdings Acquires First Solar - Four California Projects

On March 2, 2020, Longroad Energy Holdings acquired renewable energy company First Solar - Four California Projects from First Solar

Acquisition Highlights
  • This is Longroad Energy Holdings’ 2nd transaction in the Renewable Energy sector.
  • This is Longroad Energy Holdings’ 2nd transaction in the United States.
  • This is Longroad Energy Holdings’ 1st transaction in Arizona.

M&A Deal Summary
Date 2020-03-02
Target First Solar - Four California Projects
Sector Renewable Energy
Buyer(s) Longroad Energy Holdings
Sellers(s) First Solar
Deal Type Divestiture

Target

First Solar - Four California Projects

Tempe, Arizona, United States
First Solar, Inc. - Four California Projects is a combined capacity of 160-megawatts (MW)AC. which ranges from 20MWAC to 50MWAC and is expected to be completed by the end of the fourth quarter of 2020, is designed to have a low impact on local land and water resources, and the environment.

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Buyer(S) 1

Buyer

Longroad Energy Holdings

Boston, Massachusetts, United States
Category Company
Founded 2016
Sector Renewable Energy
DESCRIPTION

Longroad Energy Holdings LLC is focused on renewable energy project development in the United States. Longroad also provides asset management and operation and maintenance services.

DEAL STATS #
Overall 2 of 2
Sector (Renewable Energy) 2 of 2
Type (Divestiture) 2 of 2
State (Arizona) 1 of 1
Country (United States) 2 of 2
Year (2020) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-11-05 Longroad Energy Holdings - 72.6 Megawatt Weaver Wind Project

Massachusetts, United States

Longroad Energy Holdings's 72.6 Megawatt Weaver Wind Project is a provider of renewable energy. Longroad Energy Holdings's 72.6 Megawatt Weaver Wind Project is based in Massachusetts.

Sell -

Seller(S) 1

SELLER

First Solar

Tempe, Arizona, United States
Category Company
Founded 1999
Sector Renewable Energy
Employees6,700
Revenue 3.3B USD (2023)
DESCRIPTION
Entrance to First Solar's corporate headquarters in Tempe, Arizona.
Entrance to First Solar's corporate headquarters in Tempe, Arizona.

First Solar is a global provider of solar energy solutions, focused on providing power solutions across various market segments. The Company designs, manufactures and sells photovoltaic solar modules with an advanced thin-film semiconductor technology and the Company develops, designs, constructs and sells PV solar power solutions that primarily use the solar modules it manufactures. Additionally, First Solar provides operations and maintenance services to plant owners that use solar modules manufactured by the Company or by other third-party manufacturers. First Solar was incorporated in 1999 and is based in Tempe, Arizona.

DEAL STATS #
Overall 5 of 9
Sector (Renewable Energy) 5 of 8
Type (Divestiture) 4 of 8
State (Arizona) 2 of 4
Country (United States) 5 of 8
Year (2020) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-10-24 First Solar - GA Solar 4 Project

Tempe, Arizona, United States

First Solar, Inc. - GA Solar 4 Project is a 200MWAC photovoltaic solar generation asset, located in Twiggs County, Georgia, near Warner Robins, is expected to be the largest solar power plant in the southeastern United States.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-08-06 First Solar - North American Operations & Maintenance Business

Tempe, Arizona, United States

First Solar, Inc. - North American Operations & Maintenance Business provides O&M services for utility-scale plants and offers a full spectrum of services designed to fit a plant owner’s sourcing strategy, infrastructure, and level of expertise in the solar industry.

Sell -
Mergr

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