US developer, owner and asset manager Longroad Energy has made an equity investment in distributed generation (DG) developer Valta Energy.
Longroad’s investment will help expand Valta’s exposure in the US distributed generation segment with the initial equity investment aimed at accelerating the company’s growth capital and development pipeline.
California-based Valta operates primarily in the US states of California, Massachusetts and Hawaii, with 200MW of contracted solar assets in development, construction or operation.
Within the next three years, Longroad will be able to invest more equity capital into Valta, the company said in a media statement.
“We are very pleased to establish this partnership with Valta,” said Paul Gaynor, CEO at Longroad. “We are impressed with its business and market focus, and anticipate the funding will unleash the highly capable management team to do even greater things in the DG space,”