Deal puts Longroad Energy’s managed portfolio at 1.9 GWs.
BOSTON, Sept. 3, 2019 /PRNewswire/ – Longroad Energy Services, LLC, an affiliate of Longroad Energy Holdings, LLC, a US-based renewable energy developer, owner and operator, announced today execution of long-term asset management and operations oversight agreements for the Idaho Wind Partners (IWP) project near Twin Falls, ID.Longroad Energy was selected by IWP’s owner DIF Capital Partners (“DIF”) to provide services for the project. With these new contracts, Longroad Energy’s managed portfolio has grown from 0 to 1.9 GW in two years and now consists of nine wind projects and over 400 solar projects.
“Longroad Energy is pleased to expand our strong relationship with DIF to now include four large wind projects totaling nearly 700 MW of generation capacity in Idaho and Oklahoma. We are driven to achieve and exceed DIF’s expected investment returns by bringing our experienced asset management, operations and technical teams to bear on these projects. Our track record and experience in managing complex renewable energy assets appealed to DIF and we are proud to add IWP to our growing portfolio of managed wind and solar assets,” said Michael Alvarez, COO of Longroad Energy.
IWP consists of 122 GE 1.5 MW wind turbines for a total project capacity of 183 MW with all power being sold under long term power purchase agreements.
“Longroad Energy has been a strong partner in providing the full range of management and technical services for our US wind assets. We appreciate how they bring an owner’s perspective to managing our projects and focus on optimizing each asset so that it can exceed expected returns. We are excited to realize additional value at IWP through Longroad Energy’s efforts,” said Moira Turnbull-Fox, Managing Director of DIF.
About Longroad Energy Holdings, LLC
Longroad Energy Services, LLC is an affiliate of Longroad Energy Holdings, LLC (LEH). Founded in 2016, LEH is focused on renewable energy project development, operating assets, and services. Today, LEH owns 802 MW of operational and under construction wind and solar projects across the United States. Longroad Energy Services operates and manages 1.9 GW comprised of these projects in addition to 1.2 GW of wind and solar projects on behalf of third parties. LEH is owned by the New Zealand Superannuation Fund, Infratil Limited, and LEH’s management team.
About DIF Capital Partners
DIF is an independent infrastructure fund manager, with €5.6 billion of assets under management across seven closed-end infrastructure funds and several co-investment vehicles. DIF invests in greenfield and brownfield infrastructure assets, that generate stable and predictable cash flows, located primarily in Europe, Latin America, North America and Australasia through two complementary strategies:
DIF Infrastructure V targets equity investments in public-private partnerships (PPP/PFI/P3), concessions, regulated assets and renewable energy projects with long-term contracted or regulated income streams.
DIF Core Infrastructure Fund I targets equity investments in small to mid-sized infrastructure assets in the energy, transportation and telecom sectors with mid-term contracted income streams.
DIF has a team of over 130 professionals, based in eight offices located in Schiphol (the Netherlands), Frankfurt, London, Luxembourg, Madrid, Paris, Santiago, Sydney and Toronto. Please visit www.dif.eu for further information.