Longroad Energy announced a strategic investment in Valta Energy, a Dana Point, CA-based developer, owner, and operator of distributed generation (DG) projects. Valta operates nationwide but most of its assets are located in California, Massachusetts, and Hawaii, which Longroad sees as a good strategic fit alongside its existing utility-scale business.
“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,” said Paul Gaynor, CEO of Longroad.
Valta was founded in 2009 and has established a successful business without any external funding. Longroad’s initial equity investment will provide growth capital to Valta’s development pipeline, thereby positioning the company for more rapid expansion.
“The opportunity to combine Valta’s customer-focused corporate expertise with Longroad’s renewable energy expertise and capital efficiencies will fuel explosive growth in Valta’s in-house development of DG projects and its acquisition of late-stage development assets across the country,” stated Valta Energy CEO Mark Milius.
Longroad’s rationale for the investment is to grow its exposure to the rapidly growing U.S. DG segment, through an established development, ownership, and operation platform.
Valta has over 200 MW of contracted solar assets in development, construction, or operations. Longroad has an option to invest even more equity capital within the next three years. In the meantime, Longroad will leverage its financial and procurement skills and relationships to add value to Valta.
Have you checked out our YouTube page?
We have a ton video interviews and additional content on our YouTube page. Recently we debuted Power Forward! -- a collaboration with BayWa r.e. to discuss higher level industry topics as well as best practices / trends for running a solar business today.
Our longer running side project is The Pitch -- in which we have awkward discussions with solar manufacturers and suppliers about their new technology and ideas so that you don't have to. We've discusses everything from residential rail-less deck attaching and home solar financing to large-scale energy storage value stacking and utility-driven new home solar + storage microgrids.
We also post our Project of the Year announcements there! Interviews with this year's winners will be up starting the week of Nov. 8. Head there and subscribe today to stay on top of all this extra stuff.