AIP Invests in Longroad Energy's 215 MW Solar Assets
- After financial investment partnership with AIP, US-based renewable resource designer Longroad Energy has shut the financing for its Little Bear Solar job.
Furthermore, it has actually now started the building and construction of the Little Bear Solar job, which included four different jobs accumulating 215 MW in Fresno County in California.
Besides, 2 Danish pension funds i.e. PKA and also PenSam, which represented by their investment manager AIP, are investing in 50 percent of the equity passions of both Little Bear Solar and also Prospero I Solar, which is the 379 MW job in Andrews Area in Texas.
Discussing obtaining the financial resources for its jobs, Paul Gaynor, Chief Executive Officer of Longroad, said that "Longroad is thrilled to finish the funding of the Little Bear solar tasks and to expand our partnership with PKA and PenSam with AIP."
" The Longroad/AIP collaboration now owns 837 MW of wind and solar jobs. Last July, AIP made its first US onshore wind financial investment, signing up with Longroad as investors in the El Campo wind project in Knox Region, TX, which is presently incomplete and expected to find online in the second quarter of 2020. Prospero I is anticipated to come online in the 2nd quarter of 2020 as well as Little Bear is projected to find online in the 4th quarter of 2020. We are delighted to possess these 3 great jobs alongside AIP," Gaynor included.
On the other hand, speaking on the collaboration with Longroad, Kasper Hansen, Handling Partner of AIP, stated that "driving the much-needed energy change takes a large amount of sources, experience and funding. I am really happy with this transaction, which even more reinforces our partnership with Longroad, and combines Longroad's know-how with the financial investment experience at AIP, while producing long-term steady returns for the pension plan savers of PKA and also PenSam."
