Infrastructure investment company, Infratil Ltd
(ASX:IFT), together with the NZ Superannuation Fund, will team up to invest in an American renewable energy company.
Infratil and the NZ Superannuation Fund will invest in Longroad Energy Holdings, LLC. It’s a recently-formed company which focuses primarily in developing wind and solar power generation throughout North America.
Infratil says the potential investment targeted for development expenditure is up to US$100 million.
The company says, over time, Longroad will provide an option for further investment in stable, low risk operating assets.
Infratil reported a net profit of $446.4 million at 31 March 2016.
