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NZ's Infratil invests in U.S. renewable energy firm Longroad

Reuters logo Reuters 5/10/2016

New Zealand infrastructure company Infratil Ltd (IFT.NZ)© Facebook/Infratil New Zealand infrastructure company Infratil Ltd (IFT.NZ) New Zealand infrastructure company Infratil Ltd (IFT.NZ) on Wednesday announced that it would invest up to $100 million in U.S. renewable energy firm Longroad Energy Holdings and own 90 percent of the business in conjunction with the New Zealand Superannuation Fund.

The remainder of the Boston-based renewable energy company would be held by the current Longroad management team.

Longroad was developing solar and wind generation throughout North America.

Infratil, which already owns just over half of New Zealand energy firm Trustpower, said in a statement that it was drawn to the U.S. "as one of the largest and fastest growing renewable markets in the world."

Infratil has said that renewable energy is one the top areas it is investing in due to the chance of good returns from growing global energy demand.

(Reporting by Charlotte Greenfield)

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