Longroad Energy, a US-based renewable energy developer, owner and operator, announced today the financial close and start of construction of Little Bear Solar, comprising four separate projects totaling 215 MWdc in Fresno County, CA. Additionally, two Danish pension funds, PKA and PenSam, represented by their investment manager AIP, announced today that they are investing in 50 percent of the equity interests of both Little Bear Solar and Prospero I Solar, the 379 MWdc project in Andrews County, TX.
“Longroad is excited to complete the financing of the Little Bear solar projects and to broaden our partnership with PKA and PenSam through AIP,” said Paul Gaynor, CEO of Longroad. “The Longroad/AIP partnership now owns 837 MW of wind and solar projects. Last July, AIP made its first US onshore wind investment, joining Longroad as investors in the El Campo wind project in Knox County, TX, which is currently under construction and expected to come online in the second quarter of 2020. Prospero I is expected to come online in the second quarter of 2020 and Little Bear is projected to come online in the fourth quarter of 2020. We are delighted to own these three great projects alongside AIP.”
“Driving the much-needed energy transition takes a vast amount of resources, experience and capital. I am very proud of this transaction, which further strengthens our partnership with Longroad, and brings together Longroad’s expertise with the investment experience at AIP, while generating long-term stable returns for the pension savers of PKA and PenSam,” said Kasper Hansen, Managing Partner of AIP.