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MEAG makes $500m equity investment


Along with two of the company’s current investors, the NZ Super Fund and Infratil, a listed corporation managed by Morrison & Co., MEAG, which serves as the asset management arm for entities of Munich Re, has invested $500 million in Longroad Energy Holdings LLC.

The funding will help Longroad make its strategic transition from a business strategy that is predominantly “develop to sell” to one that is more focused on ownership.

In addition to its 1.5 GW operating portfolio with net ownership, Longroad has a history of developing and acquiring 3.2 GW worth of projects. In 13 states and major growing areas, Longroad has a sizable development pipeline of about 15 GW of wind, solar, and storage projects.

The company is running and developing a solar and storage portfolio in Arizona and California that is close to 4 GW and more than 3 GW, respectively. Over 500 MW of solar and storage projects are in the company’s pipeline for construction in Hawaii.

Over 1 GW of wind, solar, and storage projects are currently under development in Maine. With a development pipeline of more than 2 GW of wind, solar, and storage in Utah, Longroad operates 306 MW of wind assets.

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