Capital infusion expected to spur even greater growth in Valta Energy’s distributed generation project pipeline
Boston, MA — June 15, 2022 – Longroad Energy announced today a strategic investment in Valta Energy, a Dana Point, CA-based developer, owner, and operator of distributed generation (DG) projects. Valta was founded in 2009 and has established a successful business without any external funding. Longroad’s initial equity investment will provide growth capital to Valta’s robust development pipeline, thereby positioning the company for more rapid expansion. Valta develops and operates assets nationwide, with operating assets primarily in California, Massachusetts, and Hawaii, which is a good strategic fit with Longroad’s existing utility-scale business.
“We are very pleased to establish this partnership with Valta. We are impressed with its business and market focus, and anticipate the funding will unleash the highly capable management team to do even greater things in the DG space,” said Paul Gaynor, CEO of Longroad.
Valta Energy CEO Mark Milius: “We are thrilled with the partnership between Longroad and Valta. The opportunity to combine Valta’s customer-focused corporate expertise with Longroad’s renewable energy expertise and capital efficiencies will fuel explosive growth in Valta’s in-house development of DG projects and its acquisition of late-stage development assets across the country.”
Longroad’s rationale for the investment is to grow its exposure to the rapidly growing U.S. DG segment, through an established development, ownership, and operation platform. Valta has over 200 MW of contracted solar assets in development, construction, or operations. Longroad has an option to invest even more equity capital within the next three years. In the meantime, Longroad will leverage its financial and procurement skills and relationships to add value to Valta.
About Longroad Energy Holdings, LLC
Founded in 2016, Longroad Energy Holdings, LLC is focused on renewable energy project development, operating assets, and services. Today, Longroad owns 1.6 GW of wind and solar projects across the United States in addition to operating and managing a total of 3.5 GW of wind and solar projects on behalf of Longroad and third parties. Longroad is owned by the New Zealand Superannuation Fund, Infratil Limited, and Longroad Energy Partners, LLC.
About Valta Energy
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