Infratil Limited today announced an initial investment in Longroad Energy Holdings, LLC ("Longroad"), a recently formed renewable energy development and operating vehicle headquartered in Boston, Massachusetts. Infratil committed to invest in this renewable opportunity in conjunction with the NZ Superannuation Fund.
Infratil and the NZ Superannuation Fund will own the business in partnership with the management team of Longroad.
Longroad's focus is primarily in the development of utility-scale wind and solar generation throughout North America. The potential investment targeted for development expenditure is up to USD$100m. Over time, Longroad will provide an option for further investment in stable, low risk operating assets.