The Energy Storage Report 2024

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

By Jonathan Tourino Jacobo
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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.

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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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London, UK
At the time of writing, Europe had had its most successful year in terms of Power Purchase Agreements (PPAs) with a record 7.8GW of renewable energy contracts signed. As we gather in May 2024 for the third edition of the Renewable Energy Revenues Summit, the energy landscape continues to evolve rapidly, influenced by the beating drum of climate change, volatility around power prices and the need to decarbonise power procurement as well as generation.
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