Move Accelerates Build-Out of Longroad Energy’s U.S. Solar Development Strategy

January 17, 2017 07:15 AM Eastern Standard Time

BOSTON & SAN FRANCISCO–(BUSINESS WIRE)–Longroad Energy Holdings, LLC (“Longroad Energy”) today announced the acquisition of a 3.0 gigawatt (GW) solar development portfolio from 7X Energy, Inc. (“7X”). The acquired portfolio includes projects located across the U.S. in several of Longroad Energy’s target markets. The Longroad Energy and 7X team will develop these projects and will work together to continue to grow Longroad Energy’s utility scale solar pipeline, combining the experience and successful track record of both teams.

We are pleased to be working together with 7X to bring these projects to market, and excited to accelerate our solar platform,” said Charles Spiliotis, CIO of Longroad Energy. “7X is bringing in-depth market knowledge and an accomplished team that can get these deals done,” added Spiliotis.

Longroad Energy’s principals have developed, financed, built and monetized nearly 4 GW of utility-scale renewable projects in markets across the United States. This includes successfully completing 12 utility-scale solar projects comprising nearly 1.5 GW of total capacity.

“We are enthusiastic about our relationship with Longroad Energy,” said Clay Butler, President and CEO of 7X. “We’ve already proven the success of our approach by developing a 3.0 GW solar portfolio independently. Now, by working with Longroad Energy, we will ramp up our ability to source, finance and build utility-scale solar projects. This is a powerful way for both of our companies to offer utilities and large commercial customers a simpler, faster, lower-risk path to meeting their renewable energy needs.”

About Longroad Energy Holdings, LLC

Founded in 2016, Longroad Energy Holdings, LLC is focused on renewable energy project development in the United States. Longroad Energy also provides asset management and operation and maintenance services.

About 7X Energy, Inc.

7X Energy is an Austin-based company focused on the development, delivery and management of renewable energy for utilities, municipalities, cooperatives and large corporate customers.

7X Energy, Inc. Media Contact
Dave Wolpert
Director of Marketing and Communications
dave.wolpert@7x.energy
www.7X.energy

Generates more than 600 MW of project capacity prior to expiry of 100% PTC eligibility

BOSTON & SAN FRANCISCO–(January 9, 2017/BUSINESSWIRE)–Longroad Energy Holdings, LLC (“Longroad Energy”) today announced the purchase of wind turbine components that would qualify more than 600 MW of projects for 100% of the federal production tax credit if such projects are placed in service before the end of 2020. Longroad Energy purchased the components from Vestas American Wind Technology, Inc. Longroad Energy expects to utilize the components to qualify projects in its own pipeline as well as projects which may be currently owned by other developers or project owners.

“Given the increasingly competitive position of wind power in certain markets, this is an important step in creating growth opportunities for Longroad Energy. We look forward to bringing low-cost projects to the market,” said Paul Gaynor, CEO of Longroad Energy.

Chris Brown, President of Vestas North America, added: “We are happy to continue our long-standing and successful relationship with the Longroad Energy team. Over the years, we have sold in excess of $1.5 billion worth of wind turbines and are confident that their track record of success will continue.”

Longroad Energy’s principals have been responsible for developing, financing, building, and monetizing nearly 4.0 GW of utility scale renewable projects in the US. This track record includes 25 wind projects comprising 2.3 GW of total capacity in various markets and ISOs.

About Longroad Energy Holdings, LLC

Founded in 2016, Longroad Energy Holdings, LLC is focused on renewable energy project development. Longroad Energy also provides asset management and operations services. Longroad Energy is owned by The New Zealand Superannuation Fund, Infratil Limited, and management.