Longroad Energy Secures $600 Million in Debt Financing to Power Expansion of its Renewable Energy Portfolio
BOSTON, Nov. 27, 2023 /PRNewswire/ -- Longroad Energy Holdings, LLC ("Longroad"), a U.S. based renewable energy developer, owner and operator, announced today that it has closed $600 million in debt financing to further accelerate the growth of its wind, solar, and battery portfolio.
- BOSTON, Nov. 27, 2023 /PRNewswire/ -- Longroad Energy Holdings, LLC ("Longroad"), a U.S. based renewable energy developer, owner and operator, announced today that it has closed $600 million in debt financing to further accelerate the growth of its wind, solar, and battery portfolio.
- The credit facility is composed of a $275 million term loan, a $175 million revolving credit facility, and a $150 million letter of credit facility.
- The new financing follows the August 2022 $500 million equity investment by Infratil, New Zealand Superfund, and MEAG, and which also marked Longroad's strategic shift toward primarily project ownership rather than project sales.
- We are excited to welcome and thankful for the institutions who have come into this new financing."