WELLINGTON Oct 5 New Zealand infrastructure
company Infratil Ltd 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
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)