Infratil's Longroad aims for US$500m in annual operating profit by 2026

Infratil's Longroad aims for US$500m in annual operating profit by 2026
Longroad CEO Paul Gaynor has "a big, aggressive programme". (Image: supplied)
Jenny Ruth
Longroad Energy is making a strategic shift to retaining the renewable energy projects it develops and is aiming to take operating earnings to about US$500 million (NZ$754.6m) by 2026, said chief executive Paul Gaynor.The US-based company, which is 40% owned by Infratil, 40% by the New Zealand Superannuation Fund and 20% by management, has kept projects with 1.4 gigawatts (GW) capacity so far out of the 3.2GW it has developed and plans to have 8.5GW by 2026, Gaynor told Infratil's investor day.Getting to that target will mean adding 1.5GW c...

More Finance

Willis can do more to fix banking competition
Finance

Andrew Body: Willis can do more to fix banking competition

A competitive banking system needs more than lower capital adequacy ratios.

Andrew Body 02 Apr 2025
Credit card issuers fear ComCom proposals
Finance

Credit card issuers fear ComCom proposals

The proposed regulations will stifle banking competition, says Mastercard.

Pattrick Smellie 02 Apr 2025
RBNZ signals U-turn on bank capital requirements
Finance

RBNZ signals U-turn on bank capital requirements

A major shift at RBNZ's first public outing since Adrian Orr's sudden departure.

Pattrick Smellie 31 Mar 2025
Grenon seeks to end ‘futile’ NZME board stoush
Finance

Grenon seeks to end ‘futile’ NZME board stoush

It's time for the current board to fold 'em, says coup orchestrator. 

Pattrick Smellie 26 Mar 2025