Longroad Energy Holdings announced $500 million equity investment from MEAG, acting as asset management arm for entities of Munich Re, alongside two of the company’s existing investors, the NZ Super Fund and Infratil, a listed entity managed by Morrison & Co.
Longroad Energy will use the funding to accelerate the expansion of its 1.5 GW portfolio of owned assets, to 8.5 GW of wind, solar, and storage projects over the next five years.
“It also will fuel our acquisition goals and continue to support our investments in adjacent sectors, as we did recently with Valta Energy in the DG space,” said Paul Gaynor, CEO of Longroad.