# Longroad Energy

Longroad Energy is an Energy Development & Asset Management based in Boston, United States.

## Overview

- **Organization type:** Energy Development & Asset Management
- **Headquarters:** Boston, United States
- **Region:** North America
- **Address:** Boston, MA, United States
- **Assets under management:** Undisclosed
- **Website:** longroadenergy.com
- **LinkedIn:** https://www.linkedin.com/company/longroad-energy-partners

## Regulatory record

- **Reports private funds:** No

## About

Longroad Energy was founded in 2015 when Paul Gaynor, previously CEO of First Solar's project development unit, led a carve-out of that team into an independent platform. The firm's wealth origin is a blend of institutional equity (from J.P. Morgan Asset Management) and management ownership, not a single-family fortune — placing it structurally as a manager-operator rather than a family office. The firm develops, finances, and operates utility-scale solar, wind, and energy storage projects. Its activity spans the full project lifecycle: greenfield development, construction, tax-equity partnership, long-term asset management, and eventual sale to institutional owners. Longroad partners with tax-equity investors such as Bank of America and leverages back-leverage financing from J.P. Morgan (per public filings, 2023). Its portfolio exceeds 4 GW of operating and under-construction projects, concentrated in the US sunbelt and mid-Atlantic regions. Longroad manages roughly $3.5 billion in project assets (per the firm's 2023 communications), though total AUM is not publicly tabulated. The team is based primarily in Boston and Cincinnati, with additional field offices near project sites. In 2022, the firm closed its first in-house tax-equity fund, a structure that allows it to better recycle capital from sold projects into new development. Longroad's structural differentiator is its hybrid model: it operates as both a pure developer selling finished projects and a long-term owner of a retained portfolio. This dual mandate — common among leading renewable platforms — lets it spread fixed cost across a larger capital base and keep projects on its books when terms are favorable.

## Sectors

- Energy Transition & Renewables
- Solar
- Wind
- Infrastructure

## Offices

- Cincinnati, OH, United States

## People

- Paul Gaynor — CEO
- Mike Alvarez — President

## Questions

### Who runs investment decisions at Longroad Energy?

CEO Paul Gaynor, who previously led First Solar's project development unit, directs the firm's overall strategy. President Mike Alvarez oversees day-to-day operations and origination. The investment committee includes senior members from J.P. Morgan Asset Management, which backed the initial spinout (per public filings).

### How does Longroad Energy source proprietary deal flow?

Longroad originates projects through its internal development team, which identifies greenfield sites for solar, wind, and battery storage across the US. The firm also acquires early-stage projects from smaller developers and converts them through its in-house engineering and permitting capacity.

### Does Longroad participate in fund commitments or only direct deals?

Longroad uses both direct project development and fund structures. In 2022, it closed a tax-equity fund that allows institutional partners to invest in a portfolio of projects rather than single assets. The firm also constructs and sells projects outright to permanent owners.

### What investment stages does Longroad Energy typically target?

The firm covers the full project lifecycle: greenfield development (site control and permitting), construction financing, tax-equity placement, long-term asset management, and eventual sale. It does not invest in operating renewable assets acquired from third parties at stabilized yield — its core niche is value creation from development through COD.

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Last updated: 2026-06-03T20:00:00.000Z

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