Longroad Energy, a U.S.-based renewable energy developer, owner and operator, has closed $600 million in debt financing to continue growing its wind, solar and battery portfolio.
The financing is composed of a $275 million term loan, a $175 million revolving credit facility and a $150 million letter of credit facility. The new financing follows last year’s $500 million equity investment by Infratil, New Zealand Superfund and MEAG, which marked Longroad’s shift toward primarily project ownership rather than project sales.
“This additional capital will fuel the expansion of our owned operational fleet to more than 9 GW by 2027, and support our robust 30 GW pipeline of development projects,” says Paul Gaynor, CEO of Longroad. “We appreciate the continued confidence of our investors and banking partners in Longroad’s platform and execution. We are excited to welcome and thankful for the institutions who have come into this new financing.”
The syndicated corporate credit facility was led by Apterra infrastructure capital, a platform company of Apollo and joint lead arrangers Barclays and HSBC.
The post Longroad Energy Closes $600 million Debt Financing Round appeared first on Solar Industry.
Renewable Energy
Concerns About Our Future
I met a guy today who does cyber security for dozens of military bases around the U.S.
Considering his career, I didn’t expect him to bring up his belief that the president of the United States is making horrible, unhinged decisions on our nation’s behalf. He’s especially concerned about the destruction of relationships with our allies, claiming that the stability of the free world is at stake.
He believes, and I hadn’t had this thought myself, that certain single-issue voters really don’t have a choice when it comes to voting. “Suppose your top issue is that you’re vehemently anti-abortion. You can’t vote Democrat, so you have to vote Republican even though you know that 99% of the rest of their policies are based purely on utter stupidity.”
IMO, this is a novel way of looking at the devastation of democracy in the U.S. and elsewhere around the globe, though I doubt it’s the controlling factor. In this case, the SCOTUS Dobbs decision allows states to do whatever they like re: abortion.
In any case, most of us are worried about our country’s future, and for good reason.
Renewable Energy
There Are Some High-Powered Trump Supporters, But Why?
What kind of people are the celebrities in music and digital media as a whole? Not an easy question to answer.
Obviously, they’re talented. Most are well educated and many have the good looks that come from good genetics.
And yes, most of these people have the intelligence to see that Donald Trump is a criminal sociopath on target to destroy the U.S. while enriching himself beyond measure.
For every Jon Voight (see left) that are perhaps 1000 Robert Deniros, Bruce Springteens, and Leonardo Dicaprios.
But why are there any Jon Voights at all? The answer is unclear.
I once met a Princeton grad to whom I explained that a guy from my prep school in Philadelphia went to Princeton, and now is all over social media shouting, “Close the Borders!” and “English Only!”
My new acquaintance laughed hysterically, and said with a smile, “Yes, we have grads like this, perhaps one in a few thousand. What a waste of hundreds of thousands of dollars. You can get that level of education by dropping out of high school and driving a truck.”
Renewable Energy
Republicans Who Are Saying: ENOUGH!
At left we see an example of a phenomenon that seems to be happening with increasing frequency: a life-long Republican saying “enough” and refusing vote for the current version of the GOP.
I applaud people who have both:
a) the intelligence to see where a party has crossed a moral line, and is now operating as a criminal enterprise.
b) the inner courage to do this, as it is hard for most people to admit they were wrong after a lifetime of kneejerk reactions, especially on a topic of such importance.
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