Valta Energy
Overview
| Deal Type |
Mergers & Acquisitions |
|---|---|
| Client & Transactional Partners |
Valta Energy Longroad Energy |
| Our Role |
Exclusive Financial Advisor |
Summary
KeyBanc Capital Markets served as the Exclusive Financial Advisor to Valta Energy (Valta or the Company) on a strategic investment from Longroad Energy (Longroad). The transaction closed in May 2022.The initial equity investment from Longroad will provide growth capital to Valta's robust development pipeline and enable rapid expansion of the Company’s in-house development capabilities and acquisition of late-stage assets. Valta will also benefit from leveraging Longroad’s financial and procurement skills and relationships. The transaction structure provides Longroad with an option to invest further equity capital in the Company within the next three years.
Valta Energy is a Dana Point, CA-based developer, owner, and operator of distributed generation projects. Valta was founded in 2009 and has established a successful business with nationwide presence without any external funding. Valta has over 200 MW of contracted solar assets in development, construction, or operations primarily in California, Massachusetts, and Hawaii.
Founded in 2016, Longroad’s focus is renewable energy project development, operating assets, and services. Today, they own 1.6 GW of wind and solar projects across the United States in addition to operating and managing a total of 3.5 GW of wind and solar projects on behalf of Longroad and third parties. Longroad is owned by the New Zealand Superannuation Fund, Infratil Limited, and Longroad Energy Partners, LLC.
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