Longroad Energy, a renewable energy project developer jointly owned by Infratil and the New Zealand Superannuation Fund, has funding in place to build a US$300 million wind project in Texas and is evaluating the long-term ownership options of the project.

Earlier last week Boston-based Longroad said it had closed financing for the 237.6 megawatt Rio Bravo wind farm project in Starr County, Texas. Longroad, which is 45 percent owned by Infratil, 45 percent owned by the New Zealand Superannuation Fund and 10 percent owned by management, is investing approximately US$100 million as sponsor and a subsidiary of Berkshire Hathaway Energy is providing the balance of the permanent financing.

Source: Scoop