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US$500 million investment into US developer Longroad led by Munich Re asset management arm

By Jonathan Tourino Jacobo
US & Canada, Americas
Connected Technologies, Grid Scale
Business
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Longroad Energy’s Sun Streams 2, a 200MWdc solar project located in Maricopa County, Arizona. Image: Longroad.

US developer, owner and asset manager Longroad Energy has secured a US$500 million equity investment to support its business model shift from a “develop to sale” strategy to the ownership of renewable energy projects in the US.

Moreover, it will further accelerate its portfolio growth from 1.5GW of owned assets to more than 8.5GW of solar, wind and energy storage in the next five years.

The investment was led by MEAG, acting as asset management arm for insurer Munich Re and two existing funds NZ Super Fund and Infratil.

To read the full version of this story visit PV Tech.

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