15 Jul 2019 12:47pm
Infratil announces that Longroad Energy has closed the financing of its 243 MW El Campo wind project in Knox County, Texas, USA. Longroad Energy is partnering with two Danish pension funds, PKA and PenSam (acting through their investment manager, AIP), to construct the project, and will retain a 50% equity interest. Longroad will provide construction management, asset management, operations, and services to the project over a 20-year term.
The Project is due to be completed in 2020. It is the second of the 800 MW of development projects that Longroad Energy has targeted for financial close in 2019 (after the previously announced 379 MWdc Prospero solar project), and which were incorporated in Infratil's guidance for FY2020.
Achieving this milestone further illustrates the strength of Longroad Energy's development pipeline and the team's capability.
A media release from Longroad Energy relating to the El Campo project is attached.
Longroad Energy is owned by Infratil (40%) and the New Zealand Superannuation Fund (40%), in partnership with management (20%). Its focus is on wind and solar energy development, ownership, and services in the United States, one of the largest and fastest growing renewable energy markets in the world. The investment is managed on behalf of Infratil and the New Zealand Superannuation Fund by investment management firm Morrison & Co.
Any enquiries should be directed to:
Mark Flesher, Investor Relations, Infratil Limited firstname.lastname@example.org
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