Infratil flags valuation downgrades on Longroad Energy, Galileo
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The news: Infrastructure investor Infratil has reported a USD27 million ($41.4 million) decline in the valuation of its investment in US renewables company Longroad Energy over the three months to 30 June.
The numbers: Following independent valuations on a number of its investments, Infratil said the value of its 37.7% holding in Longroad Energy had reduced from USD1.21 billion to USD1.18 billion.
The company also saw its 38% stake in Zurich-headquartered renewable energy business Galileo decline €4 million ($7.2 million), from a midpoint estimation of €172.4 million to €168.4 million.
However, Infratil's 57.2% investment in radiology clinics operator Qscan rose $12 million to a midpoint estimation of $426 million.
The context: Infratil said the valuation decline in its Longroad Energy investment is primarily driven by increased uncertainty arising from new US tariffs and the One Big Beautiful Bill.
The investor noted that Galileo has been impacted by softening demand for early stage development projects. Qscan benefited from the acquisition of two new clinics during the period.
The source: ASX
