Pantheon Infrastructure (PINT) is investing $55m (€48m) in US renewable energy platform Terra-Gen, via a co-investment vehicle managed by Igneo Infrastructure Partners.
The UK-listed global infrastructure fund stated that the investment is expected to be financed using the company’s existing cash reserves.
Terra-Gen develops, constructs and operates utility-scale solar, wind and battery storage infrastructure to support the electrification and decarbonisation of the US power grid.
The platform, which currently operates approximately 4GW of capacity primarily in California, maintains a 16GW development pipeline that includes projects across Texas and New York.
Richard Sem, partner at Pantheon, PINT’s investment manager, said: “Terra-Gen is a compelling addition to PINT’s portfolio. The asset combines a large, predominantly contracted operating base with an extensive development pipeline, offering strong downside protection through long-term, inflation-linked cash flows and significant capital growth potential.
“US renewables continue to benefit from strong structural tailwinds, with demand for power from data centres and AI-related infrastructure growing rapidly. State-level clean energy targets continue to drive investment in the sector, and Terra-Gen’s scale, track record and market positioning make it well placed to capture this opportunity.”
To read the latest IPE Real Assets magazine click here.
