Holland & Knight is representing MEAG, acting as the asset management arm for entities of Munich Re, in its $300 million equity investment in Longroad Energy, a Boston-based renewable energy company. Once the transaction closes, MEAG will own a 12% stake in the company. Completion of the transaction is expected in the fourth quarter of 2022 and is subject to regulatory approvals.
Concurrently, Longroad Energy's existing investors, Infratil and the NZ Super Fund, have also announced $100 million equity investments, bringing the total to $500 million. The additional capital will primarily be used to fund Longroad Energy’s near-term development pipeline, which includes 4.5GW of development projects to begin construction over the next 3 years.
Holland & Knight Partner Roth Kehoe and Associate Trevor Ruff led the firm's representation of MEAG. They were assisted by Partners John Dierking, Robert Friedman, Peter Hall, Stephen Humes, Samuel Kastner, Robert Lorndale, Andrew McAllister, Antonia Tzinova and Victoria Zerjav; Senior Counsel Drew Gandy; and Associates Graham Coates, Brendan Connors, Dariya Golubkova, Saqib Hossain, Stephen Pennartz and Mackenzie Zales.
More information about the transaction can be found here.
Original source can be found here.
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