Longroad Energy Holdings buys 3-GW solar development portfolio from 7X Energy, firms to cooperate on development
Written By: Stratton Report
January 17, 2017
On January 17, Longroad Energy Holdings, LLC announced the acquisition of a 3.0-GW solar development portfolio from 7X Energy, Inc.
According to the firm, the acquired portfolio includes projects located across the U.S. in several of Longroad’s target markets. The Longroad and 7X team will develop these projects and will work together to continue to grow Longroad’s utility scale solar projects.
Charles Spiliotis, CIO of Longroad noted: “We are pleased to be working together with 7X to bring these projects to market, and excited to accelerate our solar platform. 7X is bringing in-depth market knowledge and an accomplished team that can get these deals done.”
Longroad stressed that its principals have developed, financed, built and monetized nearly 4-GW of utility-scale renewable projects in markets across the United States, including 12 utility-scale solar projects comprising nearly 1.5 GW of total capacity.
Clay Butler, President and CEO of 7X remarked:
“We are enthusiastic about our relationship with Longroad. We’ve already proven the success of our approach by developing a 3.0 GW solar portfolio independently. Now, by working with Longroad, we will ramp up our ability to source, finance and build utility-scale solar projects. This is a powerful way for both of our companies to offer utilities and large commercial customers a simpler, faster, lower-risk path to meeting their renewable energy needs.”