Longroad Energy, a US based renewable energy developer, owner and operator, has announced 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 additional capital will be used for the expansion of its owned operational fleet to more than 9GW by 2027. 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.
