Longroad Energy Holdings, a US-based developer and holding company for renewable energy, has announced a $500 million equity investment from MEAG, an asset management subsidiary for Munich Re entities. Although Longroad now owns a 1.5 GW net ownership operating portfolio, the developer has a record of developing and acquiring 3.2 GW of projects.
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MEAG has agreed to buy a 75 per cent stake in Stor-Skälsjön, a 260 MW wind power project in Sweden, from Eolus Vind and Hydro REIN. Under this agreement, Eolus will sell its 51 per cent stake in the wind project for consideration of $19.8 million, while Hydro REIN will sell its 24 per cent stake for $9.3 million. Hydro REIN will preserve its 25 per cent stake in the project and will continue to be a co-owner of the project.
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A consortium comprising Macquarie Asset Management, British Columbia Investment Management Corporation (BCI) and MEAG has agreed to acquire Reden Solar. Reden Solar is being purchased from InfraVia Capital Partners and Eurazeo for €2.5 billion. With a 762 MW active portfolio and a 15 GW development pipeline, Reden Solar develops, finances, builds, and runs solar power projects in Europe and Latin America.
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Q-Energy, a Spanish renewable investor, has acquired 16 wind parks in Germany from MEAG. The portfolio consists of 56 turbines in the northern part of Germany with an installed capacity of 109 MW.
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